Bharti Airtel's strong financial results for the third quarter of the 2014 financial year ending March 2014 (Q3 FY2014) continue to support its debt ratings, says Moody's. The ratings outlook remains stable.
"Underpinned by solid growth in its operations in India, Bharti reported strong nine-month results with year-on-year growth of 11% and 19% in reported revenue and EBITDA respectively," says Laura Acres, a Moody's Senior Vice President.
"Apart from its telemedia business, Bharti's main businesses in India all reported healthy year-on-year improvements and contributed to a 20% year-on-year increase in India's reported EBITDA," adds Acres, who is also the Lead Analyst for Bharti.
Building on the positive momentum in H1 2014, Bharti's mobile business in India added a further 5 million subscribers in Q3 2014, with the customer base now exceeding 198.5 million. While the subscriber base remains predominantly prepaid, the company also made good progress in increasing its data subscriber base, which increased 31% year-on-year. This growth contributed to a year-on-year increase of 5% in its mobile segment's overall average revenue per user (ARPU).
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