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    Bharti Airtel announces results for the third quarter and nine months ended December 31, 2007

    Highlights for Third Quarter ended December 31, 2007

    • Market leader with a market share of all India mobile subscribers at 23.6%.
    •    Highest ever-net addition of 63.9 lakh customers in a single quarter.
    • Total Revenues of Rs. 6,964 crore (up 42%Y-o-Y).
    • EBITDA of Rs. 2,963 crore (up 48%Y-o-Y).
    • Cash Profit of Rs. 2,882 crore (up 35% Y-o-Y).
    • Net Income of Rs. 1,722 crore (up 42%Y-o-Y).

    New Delhi, India, January 30, 2008: Bharti Airtel Limited (“Bharti Airtel” or “the company”) today announced its audited US GAAP results for its third quarter and nine months ended December 31, 2007. It has once again maintained its strong growth momentum.

    The consolidated total revenues for the quarter ended December 31, 2007 of Rs. 6,964 crore grew by 42% and EBITDA of Rs. 2,963 crore grew by 48% on a year on year basis. The cash profit from operations of Rs. 2,882 crore grew by 35% over last year. The net profit for the quarter ended December 31, 2007 was Rs. 1,722 crore, a growth of 42% over last year.

    The revenues and net profit for the nine months ended December 31, 2007 was Rs. 19,206 crore and Rs. 4,848 crore, a growth of 46% and 67% over the same period last year respectively.

    Bharti had 5.7 crore customers, as on December 31, 2007, an increase in the total customer base of 70%, over the corresponding period last year and maintained its leadership position through an improved market share of all India wireless subscribers at 23.6% as on December 31, 2007, up from 21.8% corresponding to the same period of last year.

    Commenting on the results and performance, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said, “In the current quarter, Bharti Airtel has further consolidated its leadership position in the wireless market. We believe that the current growth momentum will receive further boost with our focus on setting new benchmarks in the market by driving affordability and availability. With aggressive expansion plans particularly in rural India, we are in a strong position to continue leading the telecom revolution in the country.”

    Bharti Airtel Limited - Summary of Consolidated Financial Statements - represents Consolidated Statement of Income as per United States Generally Accepted Accounting Principles (US GAAP)


    (Amount in Rs. Crores, except ratios)


    Particulars

    Quarter Ended

    Y-o-Y
    Growth

    Half Year Ended

    Y-o-Y
    Growth

    Dec 2007

    Dec 2006

    Dec 2007

    Dec 2006

    Audited

    Un-audited

    Audited

    Un-audited

    Total revenues

    6,964

    4,913

    42%

    19,206

    13,126

    46%

    EBITDA

    2,963

    2,005

    48%

    8,120

    5,210

    56%

    Cash profit
    from operations

    2,882

    2,137

    35%

    8,101

    5,114

    58%

    Income before
    income taxes

    1,903

    1,441

    32%

    5,541

    3,379

    64%

    Net income

    1,722

    1,215

    42%

    4,848

    2,904

    67%


    Operating Highlights

    (Figures in nos., except ratios)


    Parameters

    Unit

    Dec. 31, 2007

    Sept 30, 2007

    Q-on-Q
    Growth

    Dec. 31, 2006

    Y-on-Y
    Growth

    Customers on our Network
    Mobile Services
    Broadband & Telephone
    Services

    000's 000's

    55,163
    2,178

    48,876
    2,075

    13%
    5%

    31,974
    1,738

    73%
    25 %

    Total

    000's

    57,341

    50,951

    13%

    33,712

    70%


    About Bharti Airtel Limited

    Bharti Airtel Limited, a group company of Bharti Enterprises, is India’s leading integrated telecom services provider with an aggregate of 57.34 million customers as of end of December 2007, consisting of 55.16 million mobile customers. Bharti Airtel has been rated among the best performing companies in the world in the Business Week IT 100 list 2007.

    Bharti Airtel is structured into three strategic business units - Mobile services, Telemedia services and Enterprise services. The mobile business provides mobile & fixed wireless services using GSM technology across 23 telecom circles. The Telemedia business provides Telemedia services in 94 cities and is foraying into the IPTV and DTH segments. The Enterprise services provide end-to-end telecom solutions to corporate customers and national & international long distance services to carriers. All these services are provided under the Airtel brand. Airtel’s high-speed optic fibre network currently spans over 67,138 kms covering all the major cities in the country. The company has two international landing stations in Chennai that connects two submarine cable systems - i2i to Singapore and SEA-ME-WE-4 to Europe. For more information, visit www.bhartiairtel.in.

    Disclaimer:

    [This communication does not constitute an offer of securities for sale in the United States. Securities may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of securities to be made in the United States will be made by means of a prospectus and will contain detailed information about the Company and its management, as well as financial statements.]