Indian telecom giant Bharti Airtel today announced its audited financial results for the fourth quarter and financial year ended March 31, 2008.

The company has posted 45% surge in its total revenue at Rs. 7,819 crore for the quarter ended March 31, 2008. The cash profit from operations of Rs. 3,036 crore grew by 38% over last year. The net income of the company also grew by 37% to Rs. 1,853 crore for the quarter ended March 31, 2008.

The company also recorded a growth in revenues at Rs.27,025 crore and net income at Rs.6,701for the full year ended March 31, 2008, a growth of 46% and 57% respectively over the corresponding period previous year.

The telecom major registered 65% increase in the total subscriber base with 6.4 crore subscribers, as on March 31, 2008 and sustained its leadership position through an enhanced market share of all India wireless subscribers at 23.8% as on March 31, 2008, up from 22.4% corresponding to the same period of the previous year. The company witnessed highest ever subscriber additions in a single year at 2.5 crore and the figures of 6.9 million subscriber additions is the highest for the company in a single quarter.

Along with the company’s financial results, Bharti also announced the appointment of Mr. Mauro Sentinelli as an independent director on the Board of Directors. Prior to the appointment, Mr. Sentinelli has been associated with Global System for Mobile Communication (GSM).

Speaking on the occasion, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited said, “This has been another year of record growth for the telecom industry and Bharti Airtel. The Indian telecom story is now entering the second wave of growth, which will come from rural India.”