Growth in Net Profit

Companies/Year 2007 2008 2009

Bharti Airtel 100.31% 57.44% 22.88%

Rcom 53.16% 11.92%
Idea Cellular 137.11% 107.55% -17.34%
BSNL -12.68% -61.45% -80.93%
MTNL -18.44% 19.35% -42.64%

150.00%

100.00%

50.00%
2007
2008
2009
0.00%
Bharti Airtel Rcom Idea Cellular BSNL MTNL

-50.00%

-100.00%
 PAT (Rs. Mn)
2006 2007 2008 2009

20279 40621 63954 78590

0 35,264 54010 60449
2,118 5,022 10,423 8616
89,397 78,058 30093 5740
5,505 4,490 5,359 3,074

2007
2008
2009
SNL MTNL
 Growth in EPS EPS (Basic) Rs.
2007 2008 2009 2006 2007 2008

Bharti Airtel 98.79% 59.73% 20.95% 10.78 21.43 34.23

Rcom 333.61% 67.22% 11.28% 3.63 15.74 26.32
Idea Cellular 246.43% 104.12% -13.64% 0.56 1.94 3.96
BSNL -8.18% -68.35% -74.10% 15.28 14.03 4.44
MTNL -19.30% -12.70% -47.99% 9.17 7.4 6.46

400.00%
350.00%
300.00%
250.00%
200.00%
150.00%
100.00%
50.00%
0.00%
Bharti Airtel Rcom Idea Cellular BSNL
-50.00%
-100.00%
asic) Rs.
2009

41.40
29.29
3.42
1.15
3.36

2007
2008
2009

Idea Cellular BSNL MTNL

TRAI Growth Rate of customers
2007 2008 2009
Bharti Airtel 89.68% 66.88% 51.53%
Rcom 61.81% 63.48% 58.70%
Idea Cellular 90.09% 71.31% 62.04%
BSNL 75.58% 31.62% 27.85%
MTNL 43.41% 20.07% 26.91%
Vodafone 72.14% 66.91% 55.84%
Tata Teleservices 230.31% 51.87% 44.35%
Aircel 111.11% 92.56% 74.18%
Spice 41.45% 54.21% -1.90%
BPL -20.15% 20.56% 67.44%
Total 83.08% 58.11% 49.92%

100,000,000
Subscriber base
90,000,000
80,000,000 Bharti Airtel
Rcom
70,000,000
Idea Cellular
60,000,000
BSNL
50,000,000
MTNL
40,000,000 Vodafone
30,000,000 Tata Teleservices
20,000,000 Aircel

10,000,000 Spice
BPL
0
2006 2007 2008 2009
 Customer base over the years
2006 2007 2008 2009
Bharti Airtel 19,580,000 37,140,000 61,980,000 93,920,000
Rcom 17,310,000 28,010,000 45,790,000 72,670,000
Idea Cellular 7,370,000 14,010,000 24,000,000 38,890,000
BSNL 17,650,000 30,990,000 40,790,000 52,150,000
MTNL 2,050,000 2,940,000 3,530,000 4,480,000
Vodafone 15,360,000 26,440,000 44,130,000 68,770,000
Tata Teleservices 4,850,000 16,020,000 24,330,000 35,120,000
Aircel 2,610,000 5,510,000 10,610,000 18,480,000
Spice 1,930,000 2,730,000 4,210,000 4,130,000
BPL 1,340,000 1,070,000 1,290,000 2,160,000
Total 90,050,000 164,860,000 260,660,000 390,770,000

Subscriber base 2009

1% 1% Bharti Airtel
Bharti Airtel 5%
Rcom Rcom
9%
24% Idea Cellular
Idea Cellular BSNL
BSNL MTNL
MTNL 18% Vodafone
Tata Teleservices
Vodafone
Aircel
Tata Teleservices 19% Spice
Aircel 1% BPL
13%
Spice
10%
BPL
Bharti Airtel
Rcom
Idea Cellular
BSNL
MTNL
Vodafone
Tata Teleservices
Aircel
Spice
BPL
 Revenue Growth
2007 2008 2009
Bharti Airtel 57.92% 46.64% 38.28%
Rcom 9.33% 20.35%
Idea Cellular 46.88% 53.63% 50.65%
BSNL -1.15% -4.20% -5.87%
MTNL -11.74% -3.81% -5.63%

70.00%

60.00%

50.00%

40.00%

30.00%

20.00%

10.00%

0.00%
Bharti Airtel Rcom Idea Cellular
-10.00%

-20.00%
 Revenue (Rs Mn)
2006 2007 2008 2009
Bharti Airtel 116641 184202 270122 373521
Rcom 0 174,402 190,670 229,480
Idea Cellular 29,869 43,873 67400 101540
BSNL 401770 397,150 380,470 358,120
MTNL 55620 49,090 47220 44560

2007
2008
2009

l Rcom Idea Cellular BSNL MTNL

 Change in ARPU
2007 2008 2009
Bharti Airtel -10.48% -7.19% -8.21%
Rcom #VALUE! -33.12% -24.16%
Idea Cellular -22.73% -10.32% -7.03%
BSNL -43.70% -27.22% -26.38%
MTNL -38.46% -19.89% -25.64%

0.00%
Bharti Airtel Rcom Idea Cellular
-5.00%
-10.00%
-15.00%
-20.00%
-25.00%
-30.00%
-35.00%
-40.00%
-45.00%
-50.00%
 ARPU per month (Rs)
2006 2007 2008 2009
Bharti Airtel 353.85 316.78 294.02 269.89
Rcom 0.00 518.87 347.00 263.15
Idea Cellular 337.73 260.96 234.03 217.58
BSNL 1896.93 1067.95 777.29 572.26
MTNL 2260.98 1391.44 1114.73 828.87

Airtel Rcom Idea Cellular BSNL MTNL

2007
2008
2009
 Change in ROE (%)
2007 2008 2009
Bharti Airtel 46.30% 5.38% -8.41%
Rcom 0.00% -16.42% 10.09%
Idea Cellular
BSNL
MTNL -21.29% -15.22% -59.54%
 ROE (%)
2006 2007 2008 2009
Bharti Airtel 21.60% 31.60% 33.30% 30.50%
Rcom 0.00% 13.64% 11.40% 12.55%
Idea Cellular 20.11% 35.05% 36.51% 13.51%
BSNL
MTNL 5.26% 4.14% 3.51% 1.42%