Bharti Airtel said its second quarter revenues ending June 30, 2011 jumped by 38.6% representing US$3.8 billion but net profits dropped by 28% to US$273 million compared to US$378 million a year ago. The company reported that Africa, including Ghana, continued its upward trend with revenues of US$979 million, while India and South Asia sustained double digit revenue growth year on year at 11.9%. The report said sequential revenue growth was four per cent and consolidated EBITDA (Earnings before Interests, Taxes, Depreciation and Amortization) margin was maintained at 33.6%. The company attributed the decline mainly to higher interest charges of $US77.3 million caused by the Africa acquisition, 3G investments in India, and 3G license fee amortization of US$35.73 million. But a statement from the group headquarters quoted Chairman and Managing Director, Mr. Sunil Bharti Mittal as saying "Bharti Airtel has started this fiscal year on a stable note.” He said revenue growth had been steady across all operation, with Africa recording a healthy sequential growth of approximately six per cent and annual growth of 21%. Mr. Mittal said in India, the company's efforts in the area of cost efficiencies had helped arrest the margin decline, adding that the new customer-focused Indian operation would see more agile and responsive teams in action. “This will also give a boost to growth in value added services, broadband, digital TV and Airtel money,” he said. Airtel is the fourth largest mobile network operator in Ghana with 1,888,332 subscribers at the close of June 2011. Story by: Samuel Nii Narku Dowuona/Adom News/Ghana