Bharti Airtel Q2 net up 13% at Rs 2,321 cr

The country's largest private telecom company, Bharti Airtel, on Friday posted a 13 per cent rise in net profit at Rs 2,321 crore (Rs 23.21 billion) for the second quarter ended September 30, 2009.

The revenue, as per the US accounting rules, grew by 9 per cent to Rs 9,846 crore, Bharti Airtel said on Friday.

The company's earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved to 42.1 per cent during Q2, against 41 per cent in the same quarter a year ago.

The EBITDA, a benchmark of profitability, was at Rs 4,142 crore (Rs 41.42 billion) in the second quarter, up by 12 per cent over the same period last year.

The company added 82.44 lakh customers during Q2, taking its market share in the wireless subscriber base to 23.5 per cent.

"Bharti continues to maintain the market leadership in the mobile segment, despite stiff competition," Bharti Airtel CMD Sunil Mittal said.

Shares of Bharti Airtel were trading at Rs 315.05 on BSE in morning trade, up 0.96 per cent over the previous close.