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Bharti Airtel Q1 net profit jumps 466% to INR1,607 cr; ARPU rises to INR 183
Telecom major Bharti Airtel on Monday reported a 465.81% jump in its consolidated net profit at Rs 1,606.9 crore for the quarter ending 30 June, 2022. The telco had reported a quarter-on-quarter decline in profit at Rs 284 in the year-ago period.
Consolidated revenue from operations rose 22% to Rs 32,805 crore in the quarter under review (Q1FY23), backed by strong and consistent performance delivery across the portfolio. It had reported a revenue of Rs 26,854 crore in the same period last year, the company said in a regulatory filing.
The telco's average revenue per user (ARPU) increased to Rs 183 in Q1FY23 from Rs 146 in Q1FY22.
Consolidated EBITDA came in at Rs16,604 crore. The EBITDA margin stood at 50.6%, up 150 bps year-on-year.
The total capex spend for the quarter stood at Rs 6,398 crore. Airtel also said that its 4G customers grew by 20.8 million YoY and 4.5 million QoQ, which is 63% of overall customer base.
“Airtel Payments Bank continues to penetrate the customer engagement leading to increase in monthly transacting users by 65% YoY," the company said.
On the recently concluded 5G spectrum auctions, the company said, “Airtel to lead India’s 5G revolution with acquisition of ideal spectrum bank at least cost for best 5G experience and 100x capacity enhancement; procured 19,867.8 MHz spectrum for Rs 43,040 Crore in the recently concluded 5G spectrum."
Gopal Vittal, MD and CEO, said, “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%."
“Our enterprise and homes business has strong momentum and delivered strong double digit growth, improving the diversity of the overall portfolio. Airtel’s strategy of winning with quality customers continues to yield good results with an industry beating ARPU at Rs 183," Vittal said.
He added, "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."
On Monday, Airtel's scrip on NSE closed 0.18% higher at Rs 704.95.
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