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BHARTI AIRTEL LIMITED
Registered Office: Qutab Ambience, H-5/12, Mehrauli Road, New Delhi – 110030
Financial results for the second quarter and half year ended September 30, 2008
1.Consolidated summarised financial results of Bharti Airtel Limited and its subsidiaries prepared as per United States
Generally Accepted Accounting Principles (US GAAP)
(In Rs Crore except ratios)
September
2008
September
2007
Y-o-Y
Growth
September 2008
September
2007
Y-o-Y
Growth
Audited
Audited
Audited
Audited
Total revenues
9,020.30
6,337.40
42%
17,503.60
12,242.00
43%
EBITDA
3,699.30
2,709.70
37%
7,221.40
5,156.34
40%
Cash profit from operations
3,125.20
2,597.09
20%
6,464.10
5,218.91
24%
Earnings/(loss) before taxation
1,972.40
1,747.15
13%
4,353.90
3,637.22
20%
Current tax expense/ (income)
176.30
212.02
-17%
481.60
436.84
10%
Earnings/(loss) after current tax expense
1,796.10
1,535.13
17%
3,872.30
3,200.38
21%
Deferred tax expense / (income)
(301.00)
(98.52)
(278.10)
36.06
Net profit / (loss)
2,046.30
1,613.93
27%
4,071.30
3,125.53
30%
EBITDA / Total revenues
41.0%
42.8%
41.3%
42.1%
Quarter Ended
Half Year Ended
Particulars
2.Consolidated summarised financial results of Bharti Airtel Limited and its subsidiaries prepared as per Indian Generally
Accepted Accounting Principles (IGAAP)
2008
2007
2008
2007
Audited
Audited
Audited
Audited
Audited
1 a) Net Sales/ Income from Operations
8,923.57
6,324.93
17,429.57
12,198.45
27,012.24
b) Other Operating Income
-
-
-
-
-
Total Income
8,923.57
6,324.93
17,429.57
12,198.45
27,012.24
2Total Expenditure
6,430.62
4,548.95
12,465.26
8,812.13
19,452.43
(a) Employee Cost
441.64
378.60
843.23
731.76
1,472.15
(b) Depreciation
1,102.18
881.34
2,099.34
1,670.19
3,591.41
(c) License Fees & Spectrum Charges
909.24
628.12
1,763.01
1,210.84
2,689.96
(d) Access & Interconnection Charges
1,290.56
931.73
2,532.76
1,838.86
4,111.14
(e) Network Operating Expenses
1,432.28
740.59
2,650.76
1,399.72
3,242.95
(f) Sales & Marketing
590.48
390.66
1,140.84
828.72
1,905.83
(g) Administration & others
584.64
530.65
1,261.00
1,009.91
2,102.51
(h) Other Expenditure
79.60
67.26
174.32
122.13
336.48
3Profit from Operations before Other Income, Interest
& Exceptional Items (1-2)
2,492.95
1,775.98
4,964.31
3,386.32
7,559.81
4 Other Income
29.16
61.80
90.74
145.50
279.61
5Profit before Interest & Exceptional Items (3-4)
2,522.11
1,837.78
5,055.05
3,531.82
7,839.42
6 Interest Expense / (Income) Net
1,099.56
(7.79)
1,005.03
(272.69)
527.87
7Profit after Interest but before Exceptional Items
1,422.55
1,845.57
4,050.02
3,804.51
7,311.55
8 Exceptional items
-
-
-
-
-
9Profit (+) /Loss(-) from Ordinary Activities before tax
1,422.55
1,845.57
4,050.02
3,804.51
7,311.55
10Tax Expense
(292.11)
182.51
125.35
698.59
816.15
-Current Tax
(24.59)
211.74
280.71
549.48
895.47
-Fringe Benefit Tax
11.39
6.29
20.94
12.79
40.30
-Deferred Tax
(278.91)
(35.52)
(176.30)
136.32
(119.62)
11Net profit (+)/ loss(-) from Ordinary Activities after tax
1,714.66
1,663.06
3,924.67
3,105.92
6,495.40
12 Extraordinary items (net of tax expenses Rs. )
-
-
-
-
-
13Profit (+)/ Loss (-) for the period
1,714.66
1,663.06
3,924.67
3,105.92
6,495.40
14Minority Interest
46.53
19.30
89.85
37.95
100.02
15Net Profit/Loss for the period
1,668.13
1,643.76
3,834.82
3,067.97
6,395.38
16 Paid-up equity share capital (Face value Rs.10/- each)
1,898.10
1,897.71
1,898.10
1,897.71
1,897.91
17 Reserves excluding revaluation reserves
23,686.07
12,714.58
23,686.07
12,714.58
19,823.11
18Earnings per share (in Rs.)
a. Basic and diluted EPS before Extraordinary items
i) Basic
8.789
8.765
20.204
16.173
34.234
ii) Diluted
8.787
8.756
20.199
16.142
34.193
b. Basic and diluted EPS after Extraordinary items
i) Basic
8.789
8.765
20.204
16.173
34.234
ii) Diluted
8.787
8.756
20.199
16.142
34.193
19Public Shareholding
a. Number of shares
625,812,203 647,359,051
625,812,203
647,359,051
647,558,268
b. Percentage of shareholding
32.97%
34.11%
32.97%
34.11%
34.12%
Quarter Ended September 30,
Year ended
March 31, 2008
Half Year Ended September 30,
(In Rs. Crore except per share data)
S. No.
Particulars
Note : The consolidated financial results includes the results of Bharti Airtel Limited and its subsidiaries, Bharti Hexacom Limited, Bharti Airtel Services Limited, Bharti Aquanet Limited, Bharti Infratel Limited, Bharti Telemedia Limited, Bharti Airtel (USA) Limited, Bharti Airtel (UK) Limited, Bharti Airtel (Canada) Limited, Bharti Airtel (Hong Kong) Limited, Bharti Airtel Lanka (Private) Ltd, Bharti Airtel (Singapore) Private Limited, Bharti Airtel Holdings (Singapore) Pte Limited, Network i2i Limited, Bharti Infratel Lanka (Private) Limited (subsidiary of Bharti Airtel Lanka (Private) Limited) and Bharti Infratel Ventures Limited (subsidiary of Bharti Infratel Limited).
3.
Segment Reporting – Audited as per Indian GAAP (as Consolidated Entity)
2008
2007
2008
2007
Audited
Audited
Audited
Audited
Audited
1. Segment Revenue
Net sale/income from each segment
a) Mobile Services
7,299.38
5,084.01
14,219.86
9,787.58
21,869.73
b) Telemedia Services
843.60
712.27
1,640.97
1,365.99
2,861.51
c) Enterprise Services - Carriers
1,707.81
1,009.10
3,282.91
1,976.82
4,379.81
d) Enterprise Services - Corporates
391.21
348.11
816.99
616.57
1,388.50
e) Passive Infrastructure Services
1,227.87
-
2,283.70
-
602.32
f) Others
92.56
57.05
212.17
102.56
253.69
Total
11,562.43
7,210.54
22,456.60
13,849.52
31,355.56
Less: Inter Segment Eliminations
2,609.70
823.81
4,936.29
1,505.57
4,063.71
Net sales/Income
8,952.73
6,386.73
17,520.31
12,343.95
27,291.85
2. Segment Results
Profit/(Loss) before tax and interest from each segment
a) Mobile Services
1,589.87
1,389.44
3,148.39
2,704.34
5,926.87
b) Telemedia Services
225.65
167.49
422.96
261.23
610.87
c) Enterprise Services - Carriers
625.39
275.23
1,213.61
552.08
1,128.95
d) Enterprise Services - Corporates
142.92
123.93
292.72
210.55
524.50
e) Passive Infrastructure Services
109.00
-
256.60
-
124.28
f) Others
(157.29)
(104.32)
(258.95)
(176.67)
(419.29)
Total
2,535.54
1,851.77
5,075.33
3,551.53
7,896.18
Less: Inter Segment Eliminations
13.43
13.99
20.28
19.71
56.76
Total profit/(loss) before tax and interest
2,522.11
1,837.78
5,055.05
3,531.82
7,839.42
Less :
i) Interest Expense / (Income) Net
1,099.56
(7.79)
1,005.03
(272.69)
527.87
Total profit before tax
1,422.55
1,845.57
4,050.02
3,804.51
7,311.55
3. Capital Employed
(Segment assets - Segment liabilities)
a) Mobile Services
6,025.33
8,973.24
6,025.33
8,973.24
4,818.96
b) Telemedia Services
3,629.65
3,027.83
3,629.65
3,027.83
3,347.59
c) Enterprise Services - Carriers
3,163.81
3,027.57
3,163.81
3,027.57
3,049.69
d) Enterprise Services - Corporates
481.63
376.74
481.63
376.74
494.72
e) Passive Infrastructure Services
10,408.05
-
10,408.05
-
11,140.25
f) Others
2,860.41
(63.52)
2,860.41
(63.52)
83.80
Total
26,568.88
15,341.86
26,568.88
15,341.86
22,935.01
Half Year Ended September 30,Year ended
March 31,
2008
(In Rs Crore)
Particulars
Quarter Ended September 30,
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