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Airtel not affected by global slowdown

Airtel not affected by global slowdown
PTI
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First Published: Tue, Jul 28 2009. 06 03 PM IST
Colombo: Telecom company Airtel Tuesday said it is not affected by the global slowdown as the sector still has growth prospects and that the recessionary trends are showing signs of ending in many countries.
Bharti Airtel last Thursday reported a 24% rise in its net profit at Rs2,517 crore in the April-June quarter of the current fiscal.
“Global recovery has started in some countries. As such this had not affected the telecom sector, which is growing,” deputy CEO of Bharti Airtel Sanjay Kapoor told reporters here.
Bharti Airtel Lanka Pvt Ltd , a subsidiary of Bharti Airtel Limited,is one of Asia’s leading integrated telecom service providers with an aggregate of 100 million customers, a company statement said.
Bharti Airtel has been featured in Forbes Asia’s Fab 50 list, rated amongst the best performing companies in the world in the Business Week IT 100 list 2007, and voted as India’s most innovative company in a survey by The Wall Street Journal, Kapoor said.
Kapoor, without naming any prospective company that Airtel is planning to buy over in Sri Lanka, said the company is open to such proposals if there is compatibility with Bharti.
It may be recalled that Bharti Airtel has revived its multi-billion dollar merger talks with South Africa’s MTN.
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First Published: Tue, Jul 28 2009. 06 03 PM IST