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Jul 25, 2008

Bharti Airtel to invest $2.5 bn on expansion

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Driven by robust subscriber growth, Bharti Airtel, country's leading mobile operator, on Thursday posted a 34 per cent rise in its net profit at Rs 2,025 crore for the first quarter ended June 30, 2008. Bharti Airtel, in which Singapore-based SingTel owns 30 per cent share, said its revenue as per US accounting rules, rose by 44 per cent to Rs 8,483.30 crore for the latest quarter from Rs 5,904.60 crore in the first quarter ended June 30, 2007. Shares of the company closed at lower by 2.21 per cent on the Bombay Stock Exchange on Thursday. The company is maintaining its guidance for standalone capex of over 10,583 crore (USD 2.5 billion) for the full year till March, company's Chief Financial Officer Sarvjit Dhillon said.

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