BHARTI AIRTEL Remains Major Telecom Stock Stay invested

With some negative news from the market as CEO and Jt MD Manoj Kohli of Bharti Airtel sold off his entire holding of 1.23 lakh shares for over Rs 7.2 crore there was major sell off for this share. For Q3FY09, the company posted a total Revenues of Rs. 9,633 crore (up 38% Y-o-Y). Its EBITDA stood at Rs. 3,945 crore (up 33% Y-o-Y). Its cash Profit was at Rs. 3,755 crore (up 30% Y-o-Y). Its net profit for the quarter rose 38.34% at Rs 1,976.41 crore.
BHARTI AIRTEL overall customer base as at 31st Dec 2008 was at 8.83 crore. And during Q3FY09 it made the highest ever-net addition of 82.82 lakh customers in a single quarter. Clearly, telecom is one sector which is showing no signs of a slowdown. Its market share now stands at 24.7% of all India wireless subscribers at 24.7%.
Bharti’s strength remains its reach into remotest of the villages, which now stands at over 4 lakh villages. It also launched its services in Sri Lanka and in a few years, hopes to become a market leader there too.
Final note: Bharti Airtel is doing well and with the Indian telecom growth story still intact and the rural markets now witnessing a strong uptake, given the company’s network, distribution and brand strength, its best to stay invested. Thanks