Bharti Airtel strengthened its dominance in the increasingly competitive Indian market during the previous fiscal year (ending 31 March 2009), reporting a 37 percent year-on-year rise in revenue (INR369.6 billion/US$7.4 billion) and a 26 percent increase in net income (INR84.7 billion/US$1.7 billion).
Reuters reports today that Kuwaiti-based mobile giant Zain is on track to land Iran’s third mobile license following reports that the earlier winner of the license – a consortium comprising Etisalat and local operator Taameen Telecom – has been stripped of the license. Etisalat/Taameen won the license in January but comments from Iran’s Communications Regulatory Authority today suggest that its winning bid has been scrapped because the consortium has failed to meet its obligations.
The saga over the award of Iran’s third mobile license appeared to take another twist this week with news that the government may begin a new tender process, reports Cellular News.
Telecompaper notes that UAE-based operator Etisalat reported a net profit of AED4.593 billion (US$1.25 billion) for the first half of this year compared with AED5.045 billion in the first half of 2008, which included profit on sale of shares in Mobily of AED892 million.