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Bharti Airtel revenues lift over 7% to INR 228.4 bln in Q3
2014-10-31 11:12:00| Telecompaper Headlines
(Telecompaper) Bharti Airtel reported revenues for its fiscal second quarter up 7.1 percent year-on-year to INR 228.4 billion. Growth was driven by a 66.7 percent increase in mobile data revenues to INR 25.4 billion, as well as a 8.4 percent rise in the number of customers which crossed the 300 million mark to 303.7 million. EBITDA for the three months to September rose 12.1 percent to INR 77.0 billion, giving a margin up 1.5 percent to 33.7 percent. The net profit lifted 170.2 percent to INR 13.8 billion, the company's highest quarterly profit since March 2011, boosted by improved operational efficiency, lower forex and derivative losses, and higher MTM losses on investment in the corresponding quarter last year. Operating cash flow fell 16 percent to INR 39.7 billion. Airtel reported revenues for mobile services in its home market India up 9.5 percent to INR 211.7 billion. Mobile Data revenue reached INR 18.0 billion, pulled up sharply by a 43 percent increase in the data customer base and higher usage per customer (+31.2%). Elsewhere in south Asia, revenues for mobile services slipped 8.0 percent. In Africa, revenues grew by 6.4 percent in local currency terms, but the USD appreciation depressed the reported growth to 1.9 percent year-on-year. Data revenues lifted 56.8 percent to USD 115 million, led by increase in the data customer base by 50.4 percent and higher usage per customer by 24.5 percent. Data revenues contributed 10.1 percent of overall Africa revenues, compared to 6.6 percent last year. The number of active Airtel Money customers rose to 5.3 million with the total value of transactions on the Airtel money platform crossing USD 3.3 billion.
India insurers to spend INR 4.2bln on mobile devices in 2015
2014-10-14 23:22:00| Telecompaper Headlines
(Telecompaper) The Indian insurance market will be the third fastest growth market for ICT after retail and banking in 2015, according to Gartner. With an expected growth rate of 9.4 percent, insurance companies are on pace to spend INR 118.9 billion on IT products and services in 2014. Spending is forecast to increase to INR 130 billion in 2015.
Tags: mobile
india
spend
devices
Bharti Airtel to acquire Loop Mobile for INR 7 bln
2014-06-24 08:18:00| Telecompaper Headlines
(Telecompaper) Bharti Airtel has signed a definitive agreement to acquire its smaller rival Loop Mobile's subscribers, as well as some of its assets, for about INR 7 billion. The deal is subject to regulatory approvals and was first announced in February. Loop Mobile operates only in the Mumbai circle. As part of the deal, Bharti Airtel will take over around 3.2 million subscribers of Loop Mobile, its retail outlets and 400-500 of its cellular towers. The addition of Loop customers is expected to increase Bharti's user base in Mumbai to over 7.3 million, the highest in the circle.
ZTE India aims for INR 50 bln revenue for 2014
2013-12-02 11:20:00| Telecompaper Headlines
(Telecompaper) ZTE India aims to generate INR 50 billion (approx USD 801.85 mln) in revenues in 2014, indicating a revival of investment into building networks by operators, reports The Economic Times. As part of its retail expansion plans, the company will invest USD 10 million in marketing and branding initiatives in India. Chief executive Xu Dejun said that the firm had already clocked over INR 18 billion in revenues in the first half of the financial year and expected to close the year with a total revenue of INR 30 billion.
RCom net profit grows to INR 6.75 bln in Q2
2013-11-13 08:14:00| Telecompaper Headlines
(Telecompaper) Indian operator Reliance Communications (RCom) saw its net profit increase to INR 6.75 billion in the fiscal second quarter to 30 September, from INR 1.02 billion in the year-ago quarter. Excluding the reversal of a provision of INR 4.41 billion, net profit was INR 2.34 billion for the quarter. Indian operations revenue rose 5.4 percent year-over-year to INR 46.24 billion, while global operations revenue went down 0.3 percent to INR 11.39 billion for the quarter. EBITDA for the Indian operations rose 15.1 percent to INR 16.40 billion, and the global operations grew 15.5 percent to INR 2.46 billion. Total EBITDA was INR 23.28 billion in Q2, and RCom invested INR 364 billion on capital equipment during the quarter. It remained free cash flow positive and said this is expected to continue. ARPU went up 26.3 percent year-over-year to INR 120, helped by a 30.8 percent increase in the data customer base to 34 million, including 9.1 million 3G customers. Total data traffic rose 116 percent year-over-year to 37.570 billion MB, thanks to more subscribers and higher data usage per customer. RCom finished September with a total 117.5 million mobile customers, down by 9.4 million from the previous quarter