Bharti Airtel net rises 48% to Rs 755 crore

New Delhi: Bharti Airtel, the country’s largest GSM cellular operator, has increased net profit by 48% to Rs 755 crore during the first quarter (Q1) of fiscal 2006-07 (FY’ 07), compared to Rs 510 crore in the same period of FY’ 06.

Revenues were up 53% at Rs 3,856 crore as against Rs 2,517 crore of Q1 FY’ 06.

The growth was on account of expansion in cellular telephony across India and which makes up for about 75% of Airtel’s revenues. Rest of it comes from landline, broadband and enterprise businesses. At the end of Q1, Bharti had 2.45 crore customers, of which over 2.30 crore were on mobile networks.

Profit and revenue growth over January-March was 10%. Net profit was Rs 682 crore and revenue Rs 3,411 crore.

The company is talking to one US and two European retail majors. They are Walmart of US, Tesco of UK and French Carrefour. The final partner will be selected by September

It plans to go for soft launch of its life insurance venture, in partnership with AXA Asia Pacific Holdings, next month