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Telecom major Bharti Airtel on Monday reported 466% surge in consolidated net profit (attributable to owners of the parent) at Rs 1,607 crore for the quarter ending June 30, 2022. It reported net profit of Rs 284 crore in the year-ago period.
The company’s consolidated revenue from operations rose 21% to Rs 32,805 crore as compared to Rs 27,064 crore in Q1FY22.
The company’s average revenue per user (ARPU) increased to Rs 183 in Q1FY23 as against Rs 146 in Q1FY22.
On Monday, the company’s scrip on BSE closed nearly flat at Rs 704.35.
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.
“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.”
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