Bharti Airtel records 13% rise in its profits in second quarter of the current fiscal year

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Bharti Airtel records 13% rise in its profits in second quarter of the current fiscal year
Bharti Airtel TOI
Telecom major Bharti Airtel Ltd has reported profit in the second quarter of current fiscal year on the back of stronger earnings from its mobile services in India and Africa.

The company on Tuesday said that its net profit for the July-September quarter of FY22 stood at ₹1,134 crore, compared with a net loss of ₹763 crore in the same period of previous year.

Profit from its mobile services in India more than doubled to ₹1,612.5 crore from ₹685 crore a year earlier, and profit from its mobile services in Africa increased 40 per cent to ₹2,809 crore.

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Bharti Airtel reported consolidated Q2 revenues of ₹28,326 crore, a growth of 18.8 per cent YoY on a comparable basis and 13.0 per cent YoY on a reported basis largely on account of tariff hikes and increase in subscriber base.

Consolidated mobile data traffic was at 10,943 PBs in the quarter with a healthy YoY growth of 47.8 per cent.

India revenues for Q2 2022 also increased to ₹19,890 crore, up by 18.3 per cent YoY on a comparable basis, and 10.4 per cent YoY on a reported basis.

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Mobile revenues grew by 20.3 per cent YoY on comparable basis on account of increase in ARPU and strong 4G customer addition. ARPU for the quarter came in at ₹153 as compared to ₹143 in Q2 2021 on comparable basis, validating the strategy of focusing on quality customers.

The company continues to gain a strong share of the 4G customers in the market. 4G data customers increased by 26.1 per cent YoY to 192.5 Mn.

Over the last 4 quarters, the company has added 39.9 mn 4G customers to its network. ARPU continues to be the best in industry, average data usage per data customer at 18.6 GBs/month and voice usage per customer at 1,053 mins/month.

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