’s consolidated net profit for the fiscal third quarter rose 91.5% from a year earlier, helped mainly by lower spectrum usage charges (SUC), strong 4G user additions and data consumption growth.
India’s second-largest telco, though, posted a net profit of Rs 1,588 crore, which is almost 25.96% lower than in the fiscal second quarter, FY23. Net profit also partly declined due a one-time exceptional loss of Rs 406 crore.
A combination of an improved subscriber mix, a rising proportion of data users and higher data usage also boosted India’s second largest telco’s average revenue per user (ARPU), a key performance parameter, by 18.4% on-quarter to Rs 193.
APRU growth was also partly helped by Airtel’s decision last November to sharply increase base recharge rates in Odisha and Haryana.
This is Sunil Mittal-led
’s ninth successive quarter in the black after six straight losses earlier. But the telco in which SingTel owns less than 30%, missed estimates as analysts were expecting a net profit of around Rs 3,195 crore.
Airtel’s consolidated revenue growth rose 19.9% on-year and 3.6% sequentially in the fiscal third quarter to Rs 35,804 crore as users discarded multiple connections, conversions from 2G to 4G slowed and the impact of late 2021 tariff hikes petered out.
“We have delivered another quarter of consistent and competitive growth across all our businesses. Revenue grew sequentially by 3.7%, while EBITDA margin expanded to 52.0%,” Gopal Vittal, MD, Bharti Airtel said.He added that Airtel’s strategy of winning quality customers helped it add 6.4 million 4G customers and exit the quarter with an industry leading ARPU of Rs 193. “Postpaid, Enterprise, Homes as well as our Africa business sustained
their momentum while the DTH business showed signs of growth in an industry that continues to be under pressure.”
Vittal said Airtel’s overall performance is testimony to the breadth and diversity of its portfolio that spans across both geographies as well as businesses.
Airtel’s December quarter results were announced after market hours. The company’s stocks fell 0.51% to close at Rs 785.35
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