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Bharti Airtel announces Q3 09 results with 9% Y-o-Y increase in revenue

New Delhi, 22 January, 2010

Bharti Airtel announces Q3 09 results with 9% Y-o-Y increase in revenue

Highlights for the Nine Months ended December 31, 2009

• Total Revenues of Rs. 29,559 crore (up 9% Y-o-Y).
  
• EBITDA margin at 41.3% .
  
• Net Income of Rs. 7,048 crore (up 13% Y-o-Y).

Highlights for the Third Quarter ended December 31, 2009

• Overall customer base at 125.3 million
  
• Traffic on Mobile Network up by 9.56 billion minutes
  
• Total Revenues of Rs. 9,772 crore (up 1% Y-o-Y).
  
• EBITDA margin at 40.0%
  
• Net Income of Rs. 2,210 crore (up 2% Y-o-Y).
  

Bharti Airtel Limited (“Bharti Airtel” or “the Company”) today announced its audited US GAAP results for the third quarter and nine months ended December 31, 2009.

The consolidated Total Revenues for the nine months ended December 31, 2009 of Rs.29,559 crore grew by 9% and EBITDA of Rs. 12,205 crore grew by 9% on a year on year basis. The Company continued to leverage its scale and strategic partnerships to secure cost efficiencies, leading to an improvement in EBITDA margins, to 41.3% from 41.1% in the corresponding period of the previous year. The Net Income for the nine months ended December 31, 2009 was Rs.7,048 crore, a growth of 13% over last year. The strong Free Cash Flow of Rs. 4,446 crore resulted in the reduction of Net Debt to Rs. 1,931 crore, with the Net Debt to Equity ratio, reaching an all-time low of 0.05.

The consolidated Total Revenues for the quarter ended December 31, 2009 of Rs. 9,772 crore grew by 1%, while EBITDA at Rs. 3,911 crore declined by 1% on a year on year basis. EBITDA margins at 40.0% continues to be robust, reflecting scale economies and the efficient cost structure. Net Income grew by 2% during the quarter, to Rs 2,210 crore and free cash flow was significantly higher at Rs 1,829 crore.

Bharti has 125 mn customers, as on December 31, 2009, across India and Sri Lanka, an increase in the total customer base of 42% over the corresponding period last year.

In a statement, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said “Bharti Airtel continues to ensure a robust market share despite the hyper competition and maintains its drive for internal efficiencies by leveraging its scale economics. In addition, we have enlarged our contiguous footprint in South Asia by entering Bangladesh market through a controlling interest in Warid Bangladesh.”

Operating Highlights

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