Bharti net dips 8% to Rs 2,060 cr

The company had a net income of Rs 2,239 crore for the quarter ended March 2008-09, as per the US accounting standards, Bharti Airtel said in a filing to the Bombay Stock Exchange.

During the quarter, the company's total revenues crossed the Rs 10,000-crore mark for the first time, the filing added.

Total revenues of the company rose to Rs 10,056 crore for the quarter ended March 31, 2009-10, up 2 per cent from Rs 9,825 crore in the same period last fiscal.

"Bharti Airtel continues to be strongly positioned in India despite a hyper competitive market," Bharti Airtel Ltd Chairman & Managing Director Sunil Bharti Mittal said.

The board of the company has proposed a dividend of Rs 1 per share on the face value of Rs 5 per share for the financial year 2009-10.

For the year ended March 31, 2010, the company has posted a consolidated net income of Rs 9,103 crore, a growth of 7 per cent from Rs 8,470 crore in the same period last year.

Total revenues of the company rose to Rs 39,615 crore for the year ended March 31, from Rs 36,962 crore in the same period previous fiscal.

Bharti has 137.6 mn customers, as on March 31, 2010, across India, Sri Lanka and Bangladesh. Bharti's customers increased 41 per cent over last year.

"We are confident of repeating our success story in Sri Lanka and Bangladesh by winning the hearts of customers in these countries," Mittal added.

Shares of Bharti Airtel were trading at Rs 295.50 on BSE, down 0.92 per cent from the previous close.