InfoAnda - India's Bharti profit slides as price war bites

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Cranberries reunite for tour after seven years | 31 August 2009
State debt to become 'biggest problem': IMF chief | 30 January 2010
Insight: Bomb blast brings Lebanon's party capital to juddering halt | | 25 October 2012

`Transformers' takes to sky with $112M weekend | 29 June 2009

Forum Views () Forum Replies ()

Read more with google mobile : India's Bharti profit slides as price war bites

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World India's Bharti profit slides as price war bites AFP - Thursday, August 12 Send IM Story Print India's Bharti profit slides as price war bites NEW DELHI (AFP) - – India's top mobile phone firm Bharti Airtel said Wednesday its quarterly net profit slid 32 percent as it was hit by a "hyper-competitive" home market and foreign exchange losses. The flagship company of Bharti chairman Sunil Bharti Mittal reported net profit for the first three months to June 30 dropped to 16.82 billion rupees (361 million dollars) from 24.75 billion rupees a year earlier. Bharti, which has more than 20 percent of the Indian market, has been hit by cut-throat rivalry in the world's fastest-growing mobile market, where price wars among 14 operators have slashed rates to below a cent a minute. But a top Bharti official said there were "encouraging" signs of emerging call-rate stability. "I'd say the worst is over. Cutting rates further would be suicidal," Bharti Chief Executive Officer India Sanjay Kapoor told a news conference. Growing market saturation and fierce competition on its home turf prompted Bharti earlier this year to extend its reach to Africa, where it paid 10.7 billion dollars for the African mobile operations of Kuwait-based Zain. Mobile penetration in Africa is just over 30 percent, while in India it stands at 54 percent. The slide in Bharti's fiscal first-quarter profit came despite a 17.4 percent increase in revenues to 122.31 billion rupees, lifted by new customers and partial earnings from its newly acquired African subsidiary. "Our business in India and South Asia got off to a solid start with robust revenue growth," Mittal, Bharti's founder, said. "This reaffirms our conviction that leaders emerge stronger in a hyper-competitive market," he said. But the company suffered a 2.2-billion-rupee foreign exchange loss amid foreign currency fluctuations. Average revenue per user -- a key profitability measure -- fell 23 percent year-on-year to 215 rupees. The company's shares fell 1.4 percent to 319.70 rupees on the back of the results. The silver lining was that Bharti showed a resurgence in traffic. Average minutes of usage during the end-June quarter rose by three percent to 480 minutes from the March quarter. "I think the headwinds are behind us, the competition is becoming less fierce," said Harit Shah, telecom analyst at Karvy investment house. India's telecom sector was under pressure in the quarter, paying a total of 23 billion dollars for licences for ultra-fast third-generation (3G) and broadband wireless radio airwaves. Bharti's future profit growth will hinge a great deal on how well it integrates its acquisition of Zains assets, a move the company expects to complete by year-end, analysts say. The purchase of Zain's Africa assets, renamed Bharti Airtel Africa BV, gave Bharti 36 million new wireless customers and vaulted it into the ranks of the world's top-five cellular players by subscribers, from 10th. Bharti is seeking to make itself "the most loved brand" in Africa, said the company's international chief executive Manoj Kohli. The trick for Bharti, which pioneered low-cost telecoms in India, will be to reduce Zain's high cost base and win subscribers, say analysts, and to get subscribers to talk more using lower tariffs. Bharti is hoping to replicate in Africa the success of its "minutes factory" business plan -- a low-cost, high-volume model. "They are trying to export the minutes factory -- that will be the main driver for them in Africa," said Shah. Recommend Send IM Story Print Related Articles RUSAL takes Norilsk dispute to London Reuters - 34 minutes ago Citic Bank to raise up to $3.8 bln via rights issue Reuters - 40 minutes ago European shares extend losses; banks, miners down Reuters - 43 minutes ago UPDATE 3-BarCap cuts jobs, slowdown set to squeeze banks Reuters - 49 minutes ago Deripaska values power unit at $8 bln-sources Reuters - 54 minutes ago News Search Top Stories WHO list reveals flu advisors with industry ties US posts widest trade gap in 20 months Supermodel diamonds evidence meant to be 'low-key' Pakistan issues fresh flood warning New superbugs spreading from South Asia: study More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Visitors attack Taiwan 'haunted house' actors Chelsea agree Carvalho fee with Real A long, hot Ramadan for many devout Muslims Supermodel diamonds evidence meant to be 'low-key' New superbugs spreading from South Asia: study More Most Viewed » Argentine students crack three-decade-old murder mystery 40 US billionaires pledge half wealth to charity World's first full face transplant man appears on TV Calcium supplements linked to heart attacks: study Massive ice island breaks off Greenland glacier More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010

Other News on Wednesday, 11 August 2010
Kabul attack kills two as Afghan civilian casualites rise
Burning Russia battles to defend nuclear sites
Putin wants Russian satnav system in new cars from 2012
InterContinental Hotels to create 160,000 jobs worldwide
US Fed promises stimulus to help slowing recovery
US-TECH Summary
Central African Republic asks U.N. council for help |
WHO declares swine flu pandemic is over
Florida to sue major LCD makers for price fixing
Libya to fund Gaza homes after Israel approves aid
U.N. panel on Gaza flotilla incident begins work |
A long, hot Ramadan for many devout Muslims
Iran plans help to Lebanon army as U.S. blocks aid
US productivity dips for first time since 2008
UK's Cameron pledges crackdown on welfare fraud |
Saudi watchdog backtracks on BlackBerry ban
WHO chief says swine flu pandemic is over
Netflix and Epix strike programming deal
Israel weighed all options in Gaza boat raid
Nvidia chip team gets 25 million dollars from US military
Human rights groups ask WikiLeaks to censor files
Indonesia to crack down on porn over Ramadan
UN: Afghan civilian deaths rise sharply this year
Australian opposition plans to scrap broadband network
N.Korea goes YouTube for propaganda
Chinese 'peel' widget converts Apple Touch to phone: report
RIM to share some BlackBerry codes with Saudis: source |
First Guantanamo trial under Obama opens
Dell to sell tablet for $300 with AT&T contract |
US-ENTERTAINMENT Summary
Over-40 actresses dominate September magazine covers
Dubai 'hot spots' freeze over as Ramadan nears
Hundreds of Muslims attend anti-terror summer camp
Captain Underpants' creator returns with more poopypants
Julia Robert's new movie worth the weight
Radical Indonesia preacher could face death penalty
Teachers face death in Thailand's troubled south
Saudis hoping giant clock will set 'Mecca Time'
'Spider-Man' musical set to open on Broadway |
Over-40 actresses dominate September magazine covers |
Elvis' granddaughter eyes Mad Max role |
NATO: Roadside bomb kills 3 Afghan civilians
Anger grows in Russia press over slack fire response
Pakistani militants urge rejection of Western aid |
U.N. panel on Gaza flotilla incident begins work
Obama signs 'libel tourism' bill
Supermodel Campbell defends war crimes testimony
U.N. report says Afghan civilian toll up 31 percent |
Downpours bring more worries for China landslide town |
Euro football championship advance vital for Spurs
NZ soldier buried after death in Afghanistan
Signs of movement towards Middle East peace talks
New superbugs spreading from South Asia: study
Chelsea agree Carvalho fee with Real
Taliban blamed for sharp rise in Afghan casualties
Bomb kills eight Iraqi soldiers, wounds four |
BP spill cases to be heard in New Orleans
Virus sends costly messages from Android phones
Naomi Campbell says nothing to gain from diamonds |
Colombia's Santos, Venezuela's Chavez restore ties |
"Mad Men" ratings plunge 24 percent
Australian leaders to face 'Battle of Rooty Hill'
Sri Lankan war probe opens
Vatican US child sex abuse cases 'falling apart'
Pakistani militants urge rejection of Western aid
Pakistani Taliban urge rejection of foreign flood aid
Global Weather-Celsius
India may decide BlackBerry fate on Thursday |
Downpours bring more worries for China landslide town
China mudslide rescue hopes fade as toll tops 700
"Mad Men" ratings plunge 24 percent
"Heartbroken" Fantasia overdoses over married man affair
Racing against time to preserve India's Parsi past
Japan's machinery orders up 1.6 percent in June
Stars of "Eat Pray Love" say it changed lives
Fiji wants to replace Pacific allies with China
China's inflation up after devastating floods
Elvis' granddaughter eyes "Mad Max" role
S.Korea urges N.Korea to return boat
Britney Spears to have cameo in "Glee"
Toyota suspends auto exports to Iran
'Spider-Man' musical set to open on Broadway
Nepal court to rule on 'Himalayan Viagra' murders
Taiwan stocks end down; Acer falls on weak sales
Seoul shares slip as Hynix leads tech slide
CORRECTED
New Zealand farmers most confident in 2 years -survey
Most 'failed to brake' in runaway Toyota crashes
S.Korean bonds rise early after U.S. Fed move
Heartbroken Fantasia overdoses over married man affair |
Stars of Eat Pray Love say it changed lives |
Korea Hot Stocks
Jane Lynch confirmed to host SNL |
Mad Men ratings plunge 24 percent |
Virus sends costly messages from Android phones
Google Street View throws light on web privacy
Israel wasn't ready for flotilla resistance-general
Russia deploys air defence missiles in Abkhazia
Direct talks in sight as U.S. envoy sees Netanyahu |
Plastic Logic scraps long-awaited e-reader QUE
Top Iraqi officer warns US must stay past 2011
Pakistan issues fresh flood warning
Russia deploys missiles to protect Georgia rebels |
British unemployment shows biggest drop for three years
New superbugs spreading from South Asia: study
Militant attack kills 8 Iraqi soldiers, 3 others
Israel wasn't ready for flotilla resistance: general |
Industrial demand boosts Adecco net profit
Bodies of 4 American medical workers headed home
Nestle profits grow ahead of expected slowdown
Lebanon says aid to army must be unconditional |
Lebanon court asks evidence from Hezbollah head |
Russia says fires burn Chernobyl-tainted forests |
Rwanda's Kagame wins election by landslide |
Italy opposition wants united front vs Berlusconi |
Setback for BlackBerry in India |
Germany to keep close eye on Google Street View |
R&B guitarist Phelps "Catfish" Collins dead at 66
Apple says to replace overheating iPods in Japan |
Teri Hatcher sued by former business associate
Wi-Lan settles patent litigation with UTStarcom |
Beijing resumes radio exercise sessions
India's Bharti profit slides as price war bites
Pakistani stocks, rupee end lower; o/n rates up
Tug of war over Czech Art Nouveau gem
Plastic Logic scraps long-awaited e-reader QUE |
Jane Lynch confirmed to host "SNL"
Apple Japan offers to replace overheating iPod nano
Seoul shares end down 1.3 pct on growth woes
US dollar falls to a 15-year low against the yen
Heartbroken Fantasia overdoses over married man affair |
R&B guitarist Phelps Catfish Collins dead at 66 |
Tiger Woods' TV allure: the train wreck factor |
Teri Hatcher sued by former business associate |
Busy mogul Nick Cannon finds time for pillow talk with Mariah |
Old Spice hunk exchanges roles in Tyler Perry films |
Wi-Lan settles patent litigation with UTStarcom
Apple says to replace overheating iPods in Japan
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01