Bharti Airtel Q2 net profit rises 168% to Rs 3,593 crore

Bharti Airtel Ltd for the second quarter ended September 30, 2024 reported 168% growth in consolidated net profit at ₹3,593 crore as compared with ₹1,341 crore in the year ago period.

Consolidated revenues for the quarter at ₹41,473 crore grew 12.0% YoY driven by strong momentum in India and growth in constant currency in Africa, the company said in a filing. 

India revenues for the quarter at Rs 31,561 crore, increased by 16.9% YoY. Mobile revenues grew 18.5% YoY led by tariff repair and our relentless focus to premiumise the portfolio with quality customers. 

The company said it continued to deliver industry leading ARPU growth. ARPU for the quarter stood at ₹233 as compared to ₹203 in year ago period. It strengthened its leadership position in postpaid segment with sustained momentum in net adds of 0.8 million in the quarter thereby reaching a customer base of 24.7 million

“Our market share in smartphone segment saw continued improvement with addition of 26.2 million, increase of 11.0% YoY,” it added.

Gopal Vittal, MD, Bharti Airtel in a statement said, “We delivered another quarter of solid performance, with India revenue growing 8.7% sequentially. Africa maintained strong revenue growth momentum as well with 7.7% constant currency growth.” 

“The flow thru of tariff repair is in-line with our expectation on ARPU increase and SIM consolidation. We reported industry leading ARPU of ₹233. Our focus on winning quality customers and driving premiumisation has helped us add 4.2 million smartphone customers,” he added. 

Published - October 28, 2024 08:02 pm IST