Second quarter results announced by leading Indian cellco Bharti Airtel have reported a record increase in the number of subscribers over the three months ending 30 June 2008. 7.5 million sign- ups were counted over the quarter, bringing Bharti’s total mobile subscribers to just under 70 million. Strong figures were reported in all areas, with net income up 34% year-on-year to INR20.2 billion (USD472 million) and earnings before interest, tax, depreciation and amortisation (EBITDA) climbing 44% to INR3.52 billion. Despite fierce competition from rivals including Reliance Communications and Vodafone Essar, tariff cuts are understood to have played a part in the strong performance for Bharti, with the cellco claiming it had grown its market share to 24.2% at 30 June 2008. ...
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