Q2 results - Bharti, Tech Mahindra, MTNL

Posted on | October 29, 2006 |

Bharti Airtel Q2 net profit rose 23.7% at Rs 934 crore in the second quarter versus Rs 755 crore in the previous quarter. Its revenues were up 13% at Rs 4,357 crore from Rs 3,856.3 crore QoQ. The EBITDA stood at Rs 1,702 crore.

The consolidated total revenues grew by 61%, EBITDA grew by 67% and the net profit grew by 79% on a year on year basis.

The company made net additions of 4.1 million users in Q207 followed by 3.49 million in Q107 and 3.23 million in Q4. Bharti had over 2.86 crore customers, as on September 30, 2006.

The numbers were ahead of street expectations.

Tech Mahindra announced a 373% growth in net profit after tax and 183% increase in revenue for Q2 FY07 over the corresponding quarter in the previous year.

The company’s cash and cash equivalents were Rs 452.5 crores as of September 30, 2006.This includes Rs 116.3 crores raised in the initial public offering of the company.

• Net profit after tax of Rs 177.1 crores and revenue of Rs 697.7 crores
• Over the previous quarter, net profit after tax grew by 66% and revenue grew by 19%
• Headcount crosses 15,000 mark

MTNL reported net profit of Rs 121 crore in the second quarter versus Rs 131.3 crore in the previous quarter. Its operating revenues decreased to Rs 1,220 crore from Rs 1,278.2 crore. The EBIDTA was seen flat at Rs 287 crore versus Rs 285 crore.

Also Read: Bharti gives MTNL blues

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