NEW DELHI: Bharti Airtel, country’s second-largest telecom service provider, reported a 54% growth in its consolidated net profit to Rs 2,442 crore for the quarter ending December 31, 2023. The company posted a consolidated profit of Rs 1588 crore for the same period the previous year.
The company’s average revenue per user (ARPU) witnessed a rise of `15, reaching Rs 208 in the quarter compared to Rs 193 in the third quarter of the previous year. The company attributed its ARPU growth to a consistent strategy of acquiring high-value customers and improved realisations.
Consolidated revenues for the third quarter stood at Rs 37,900 crore, growing 5.9% year-on-year. Airtel’s India revenues for the quarter stood at Rs 27,811 crore, reflecting an 11.4% YoY increase. Consolidated EBITDA saw an increase of 7.8% YoY to `20,044 crore in Q3’24. EBITDA margins across businesses in India remained healthy, improving from 52.7% in Q3FY23 to 53.9% in Q3FY24.
“We have delivered yet another quarter of consistent and competitive growth across all our businesses. Revenue from the India business sustained its momentum and grew sequentially by 3.0%, while the consolidated revenue was impacted by the devaluation of the Nigerian Naira and Malawian Kwacha,” said Gopal Vittal, MD. Airtel added 0.9 million in its postpaid segment, reaching an overall customer base of 48.3 million (including IoT).
It rolled out 12.3 thousand towers in the quarter to further strengthen its network coverage and provide seamless connectivity. The firm said its consolidated net debt, excluding lease obligations, reduced to Rs 1.42 lakh crore in Q3FY24 as compared to Rs 1.54 lakh crore in the year-ago period.
Revenue at Rs 37,900 cr
Consolidated revenues for Q3 stood at Rs 37,900 crore, growing 5.9% YoY. India revenues for the quarter stood at Rs 27,811 crore, reflecting an 11.4% YoY rise. EBITDA saw an increase of 7.8% YoY to Rs 20,044 crore in Q3.