Bharti Airtel’s consolidated net profit for the fiscal first quarter jumped 467% on year, helped by a one-time gain from a tax write back even as it continued to add more 4G users who consumed more data.
India’s second-largest telco reported a consolidated net profit of Rs 1607 crore in the June quarter from Rs 284 crore a year earlier. Net profit fell from Rs 2,007.8 crore in the previous quarter. This, though, was Airtel’s seventh successive quarter in the black after six straight losses earlier.
Revenue for the quarter grew 22% to Rs32,805 crore.
“This has been another solid quarter. We continue to deliver strong and sustained growth at 4.5% sequentially. EBITDA margins are now at 50.6%,” Gopal Vittal, MD and CEO, said in a statement Monday.
He added that Airtel’s strategy of winning with quality customers continues to yield good results with an industry beating ARPU at Rs 183.
“As India gets ready to launch 5G, we are well positioned to raise the bar on innovation. We are also confident of meeting the emerging needs of discerning customers looking for speed, coverage and latency. Our astute spectrum strategy over the last few years as we bolstered mid band spectrum is designed to deliver the best experience at the lowest total cost of ownership,” Vittal said.
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