Bharti Airtel declares Q3 Results, Stock down 6%

Bharti Airtel announced its audited consolidated IFRS results for the third quarter and nine months ended December 31, 2011. The consolidated total revenues for the third quarter ended Dec 31, 2011 of `18,477 crore grew by 17.1% over the last year. India & South Asia continued its double digit revenue growth (Y-o-Y 12.1%) aided by improvement in realisation rates. Africa revenues recorded a healthy Y-o-Y growth of 16.1%; the growth was a strong 32.2% in Rupee terms aided by exchange rate movements. Consolidated EBITDA margins for the quarter increased to 32.2% (Q3 FY11: 31.7%), with significant margin improvement being reported in Africa ( Q3 FY 12: 26.7%, Q3 FY 11: 19.1%). At 01:00 hrs the share was quoting at Rs 356, down 6%. The share touched an intraday high of Rs 368.55 and an intraday low of Rs 354.
In a statement, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said: “I am pleased that investments in branding and networks continue to be our focus in India, as we enhance customer experience for voice quality and cater to the ever increasing demand for data. These investments are resulting in healthy growth of Mobile revenues. In Africa, we have crossed the 50 million ica, customer milestone and are now one of the fastest growing telecom companies in the continent”. 


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