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Jan 24, 2010
India's largest mobile phone
operator Bharti Airtel
recorded a small rise in
quarterly revenue and profit
as a fierce price war in the
explosively growing cellular
market cut into the company's
revenues.
Bharti, which has acquired a
70 percent controlling stake
in Warid Telecom, reported net
profit of $478.4 million under
American accounting standards
in the fiscal third quarter to
December as revenue rose to
$2.1 billion.
While net profit rose by 2
percent for the quarter from a
year earlier, revenue
increased by 1 percent.
“Bharti Airtel continues to
ensure a robust market share
despite the hyper
competition," said the
company's Chairman Sunil
Bharti Mittal in a statement.
India has a total of 14
cellphone operators compared
with just two state-owned a
decade ago.
India's mobile phone market in
urban areas have reached
almost a saturation point but
the vast rural market is
waiting to be tapped which is
a lucrative area for new
entrants, telecom industry
analysts say.
Source: The Dailystar
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