CapitalMarket.com - Bharti Tele comes to the party with record new subscribers
Hot Pursuit Tuesday, February 07, 2006 10:42 Hrs IST

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Bharti Tele comes to the party with record new subscribers

Cellular services major, Bharti Tele-Ventures, rose 1.6% to Rs 375.45 boosted by a massive addition of new subscription during the last month.

A total of 57,930 shares changed hands in the counter on BSE.

The market had been speculating about a strong addition to Bharti Tele-Venture (BTL)'s subscriber-base in January 2006. Coupled with strong Q3 results, the speculation had triggered a solid rebound in the stock since mid-January 2006. From a low of Rs 330.15 on 18 January, it had spurted to Rs 369.55 by 6 February. The monthly subscription figures were revealed after trading hours on 6 February.

BTL added 1.04 million new subscribers in January 2006, taking its user base to 17.37 million customers. This was the highest ever monthly addition by the company. The subscription increase came on the back of a `lifetime pre-paid' scheme announced by most cellular operators including BTL. GSM-based operators together added a record 3.5 million users in January 2006.

BTL's consolidated Q3 December 2005 net profit rose 25% to Rs 545.20 crore (Rs 436.30 crore). Revenue rose 42% to Rs 3,025.60 crore (Rs 2131.90 crore).

UK-based mobile giant, Vodafone Group Plc, owns a 10% stake in BTL. Singapore Telecommunications also has a 30.8% stake in the cellular services major.

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