Bharti Airtel has posted revenue for its fiscal second quarter ending 30 September of INR202.7 billion (USD3.7 billion), up by more than 17% year-on-year. The growth in sales comes on the back of an 11% increase in the company’s total consolidated subscriber base to 262.6 million, almost 60 million of which are in Africa. Bharti also revealed that its mobile data revenues in its home market of India soared 77% year-on-year. However, net income for the three months under review plunged 30% to INR7.2 billion as operating costs relating to network investment increased, and losses from the African division widened. The company has now posted declining net income for each of the last eleven quarters.
Commenting on the results, Sunil Bharti Mittal, Chairman & Managing Director of Bharti Airtel, said: ‘Despite a seasonally weak quarter, I am pleased to see that our overall revenue growth has sustained through diversified segments and geographies as well as the continuing healthy demand in data services. I am also happy to note that in India, the much needed market corrections in customer acquisition practices have been put in place by the operators. Our African operations continue to reflect sustained and steady growth on all major parameters of revenues, profitability and cash flow’.