Consolidated Statement of Cash Flows

( ` Millions)

Particulars		Year ended March 31, 2015	Year ended March 31, 2014
Cash flows from operating activities
Profit before tax		107,130	78,643
Adjustments for -
Depreciation and amortisation		155,311	156,496
Finance income		(24,788)	(10,408)
Finance costs		73,252	58,788
Share of results of joint ventures and associates		(7,223)	(5,211)
Exceptional items (net)		1,941	(2,481)
Amortisation of share based compensation		(4)	8
Other non-cash items		(45)	(789)
Operating cash flow before changes in assets and liabilities		305,574	275,046
Trade & other receivables and prepayments		(11,144)	2,072
Inventories		(2)	(147)
Trade and other payables		14,203	16,818
Provisions		1,144	2,511
Other financial and non financial liabilities		(99)	10,506
Other financial and non financial assets		(5,741)	(14,227)
Cash generated from operations		303,935	292,579
Interest received		1,307	1,688
Dividend from mutual funds		480	898
Dividend received		16,407	2,200
Income tax paid		(46,111)	(35,039)
Net cash inflow from operating activities		276,018	262,326
Cash flows from investing activities
Purchase of property, plant and equipment		(146,411)	(114,159)
Proceeds from sale of property, plant and equipment		2,595	4,360
Purchase of intangible assets		(65,970)	(64,860)
Short term investments (net)		(13,821)	(21,998)
Purchase of non-current investments		(3,078)	(8,842)
Sale of non-current investments		5,618	-
Investment in subsidiary, net of cash acquired (refer note 7)		(358)	(6,044)
Sale / Demerger of subsidiary		1,021	(8,009)
Investment in joint venture / associate		(10)	(2)
Proceeds from Joint venture on account of capital reduction		87	-
Loan given to joint venture / associate (Refer note 34)		(154)	(30,179)
Net cash outflow from investing activities		(220,481)	(249,733)
Cash flows from financing activities
Proceeds from borrowings		344,586	361,215
Repayment of borrowings		(420,325)	(348,425)
Short term borrowings (net)		3,288	1,462
Repayment of loan to joint venture		(9,173)	-
Interest and other finance charges paid		(33,887)	(37,620)
Proceeds from exercise of share options		552	98
Dividend paid (including tax) to Company's shareholders (refer note 31)		(16,034)	(4,439)
Dividend paid (including tax) to non - controlling interests		(5,365)	(2,296)
Proceeds from issuance of equity shares to institutional investor		-	67,956
Sale of interest in a subsidiary to non-controlling interest (refer note 7)		40,412	-
Acquisition of non-controlling interests (refer note 7)		(624)	(10,207)
Net cash inflow/ (outflow) from financing activities		(96,570)	27,744
Net increase/ (decrease) in cash and cash equivalents during the year		(41,033)	40,337
Effect of exchange rate changes on cash and cash equivalents		43	(2,073)
Add : Balance as at the beginning of the year		39,575	1,311
Balance as at the end of the year (refer note 25)		(1,415)	39,575

The accompanying notes are an integral part of these financial statements
For S. R. Batliboi & Associates LLP Chartered Accountants ICAI Firm Registration No: 101049W	For and on behalf of the Board of Directors of Bharti Airtel Limited
per Nilangshu Katriar Partner Membership No: 58814	Sunil Bharti Mittal Chairman	Gopal Vittal Managing Director & CEO (India & South Asia)
Place: New Delhi Date: April 28, 2015	Rajendra Chopra Company Secretary	Srikanth Balachandran Global Chief Financial Officer