Bharti Airtel registers 54 per cent jump in net profit to Rs 2,442.2 crore in Q3

Consolidated revenue from operations during the third quarter increased 5.8 pc

AirTel-Bharti-Airtel-shut

Bharti Airtel posted a 54 per cent increase in consolidated net profit to Rs 2,442.2 crore in the December quarter. The company had registered a profit of Rs 1,588.2 crore in the year-ago period.

Consolidated revenue from operations during the third quarter increased 5.8 per cent to Rs 37,899.5 crore from Rs 35,804.4 crore in the December 2022 quarter.

“Revenue from India business sustained its momentum and grew sequentially by 3 per cent, while the consolidated revenue was impacted by the devaluation of the Nigerian Naira and Malawian Kwacha," Bharti Airtel MD Gopal Vittal said.

Its average revenue per user in the country grew 7.7 per cent to Rs 208 from Rs 193 a year ago, driven by a "consistent strategy of acquiring high value customers and improved realisations."

The quarter witnessed a strong growth trajectory for the postpaid and homes business, while our DTH business added 388k net adds – the highest in the last 12 quarters," the Vittal said.

Meanwhile, shares of the company declined more than 3 per cent on Monday to Rs 1,113.60.

TAGS

Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp