- Friday, May 03, 2024
By: Shubham Ghosh
INDIAN telecommunications services company Bharti Airtel on Tuesday (3) reported a consolidated net profit of Rs 284 crore (£27.5 million) for the June quarter against a loss of Rs 15,933 crore (£1,544 million) in the corresponding period the year before.
Airtel’s total revenue surged 15.3 per cent year-on-year to Rs 26,854 crore (£2,602 million) during the first quarter ending June 30, it said in a statement.
The consolidated net profit (after exceptional items) stood at Rs 284 crore (£27.5 million) during Q1 FY22. Airtel’s average realisation per customer measured in terms of ARPU (average revenue per unit) – a key metric for telecom firms – was at Rs 146 (£1.41) in the quarter that just ended, compared to Rs 138 (£1.34) in Q1 FY21.
The company said the year-on-year rise in ARPU is an outcome of its focus on acquiring quality customers as well as secular upgrading of customers to data.
“Our consolidated revenues at 26,854 crores (£2,602 million) grew by Rs 1,106 crores (£107 million) over the last quarter, representing a sequential growth of 4.3 per cent, while EBITDA margins improved from 48.9 per cent to 49.1 per cent,” Gopal Vittal, MD and CEO (India and South Asia) Bharti Airtel said.
While wireless revenue was hit by the Covid lockdown-induced slowdown in terms of device shipments and a financial squeeze at the lower end of the market, Airtel’s overall performance reflected the resilience and strength of its portfolio, he added.
