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Sovereign Wealth Funds Briefing - Categorized | Performance

Bharti Airtel Q1 earnings below expectations; Net profit down 28pct

Posted on 04 August 2011

India’s largest telecom firm Bharti Airtel, backed by Singapore’s sovereign wealth fund Temasek, saw its consolidated net profit crumble 28 per cent to Rs 1,215 crore in the quarter ended June 30, 2011, over the year-ago period, as higher interest costs related to its acquisition in Africa and increase in tax outgo cringed net margins even as the firm reported strong revenue growth.
Total revenues was up 38 per cent to Rs 16,983 crore as against Rs 12,286 crore in Q1, FY11. While revenues fell marginally short of analyst expectations, net profit numbers were much below estimates……………………………………….Full Article: Source


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