Bharti Airtel reported a 39.28% growth in its fourth-quarter earnings at Rs 17,923 million compared with Rs 12,868.40 million in the corresponding quarter, a year ago.
Net sales rose 42.06% to Rs 74,137.30 million for the fourth quarter ended Mar. 31, 2008 as against Rs 52,187.30 million in the corresponding quarter, a year ago. Total income also rose 41.82% to Rs 74,468.20 million, up from Rs 52,507.70 million in the fourth quarter, a year ago.
The basic EPS after extraordinary items stood at Rs 9.44 for the quarter ended March 2008.
Annual Results:
Bharti Airtel reported 54.82% increase in net profit to Rs 62,442 million for the year ended March 2008 as against Rs 40,332.20 million, a year ago. Net sales rose 44.45% to Rs 257,035.10 million for the year ended Mar. 31, 2008 as against Rs 177,944.30 million in the previous year.
Total income also rose 45.01% to Rs 259,393.70 million as against Rs 178,879.90 million in the last year.
The basic EPS after extraordinary items stood at Rs 32.91 for the year ended March 2008.
Commenting on the results and performance, Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel, said, This has been another year of record growth for the telecom industry and Bharti Airtel. The Indian telecom story is now entering the second wave of growth, which will come from rural India. The coming year will be an exciting one for the company as we launch our services in new segments such as DTH and go live with our operations in Sri Lanka. Going forward, we see another year of strong demand in all business segments and we will continue to build on our organisational strengths. Shares of the company were last trading up Rs 62.8, or 7.44%, at Rs 907. The total volume of shares traded at the BSE was 638,983. (10.26 a.m., Friday)
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Goldman Sachs acquired 8.16% stake in New Delhi Television (NDTV), last week, reports Business Lines.
The global firm has acquired the stake when an open offer by the company is going to start shortly. It was scheduled to start on February 12 and close on Mar. 3, 2008 but has been delayed.
At the end of last year, Prannoy Roy and his wife Radhika Roy, promoters of NDTV, announced an open offer to acquire 20% equity stake of the company for Rs 438.98 a share, worth Rs 5.50 billion.
The open offer followed the promoters` acquisition of 7.73% stake from GA Global Investments in December. Prannoy Roy bought the stake of 4,836,000 shares from the PE Fund. This increased the stake of the promoters to 61% from 53.3% the company.
Shares of NDTV declined Rs 4.25, or 1.01%, to end at Rs 416.5. The total volume of shares traded was 33,270 at the BSE. (Thursday)
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To introduce a range of premium kitchen products. Lighting products and appliances maker Bajaj Electricals is targeting the premium Indian home appliances market. The company has entered into a strategic alliance with Italy-based Nardi Elettrodomestici Spa to launch Bajaj Nardi brand of home appliances in India.
The association will enable Bajaj Electricals to widen its product basket to premium kitchen products, address the growing built-in appliances and modular kitchen market in India. With presence in 80 countries, Nardi has 40 per cent market share of the competitive Italian home appliances market.R Ramkrishnan, executive director, Bajaj Electricals, said, “Nardi’s technological expertise and insights of the international markets will help Bajaj in expanding the offering. The company will introduce customised products for the Indian market that will be manufactured in Italy in the first phase.”
Initially, Bajaj Nardi will launch the range of hobs, cooktops and chimneys followed by built-in ovens, dish washers amongst others. Marco Nardi, chairman, Nardi Elettrodomestici Spa said, “India has potential to become double than the European market. Our main objective will be the modular kitchen and product ranges like hobs and hoots.” Ramkrishnan said that Bajaj Nardi is eyeing 25 per cent market share of the premium gas hobs and chimney market. According to the company executives, the Indian home appliances market is pegged at Rs 4,000 crore with brown goods segment largely dominated by the unorganised players.
The company plans to distribute Bajaj Nardi brand through about 8,000 out of 25,000 of its existing distribution dealers and make its presence in the specialised retail stores. The Nardi partnership is estimated to boost the topline of the Bajaj’s appliances business. Last year, the company’s appliances operations registered a turnover of Rs 375 crore and is expected to touch Rs 501 crore in FY2009.
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