Bharti airtel has announced Q1 Results

Bharti Airtel has announced its first quarter numbers. It has posted 16.93% growth in its net profit of Rs 2166.7 crore for the quarter ended June 2008 as against Rs 1,853 crore in previous quarter (Indian GAAP). Net sales was up 8.8% at Rs 8506 crore versus Rs 7,819 crore (Indian GAAP) (QoQ). Net profit for in same period of last year was at Rs 1424.2 crore and net sales of Rs 5873.5 crore. Both topline and bottomline were better than expectations. Operating profit margin declined a bit at 41.5% versus 41.6% (QoQ) (US GAAP). Bharti Airtel reported forex loss of Rs 148 crore. ARPU also fell at Rs 350 versus Rs 357 while MoU increased at 534 from 507. Mobile revenues shot up by 7.7% while mobile margins took a hit, down to 30.7% from 35.5%. Non mobile revenues were also up 14.9% whereas margins rose at 43.6% from 39.7%. Total towers stood at 58013 now. Its tenancy ratio was 1.22. Bharti Airtel is a market leader with a market share of all India wireless subscribers at 24.2%.