India’s Bharti Airtel reports 22% growth in quarterly revenue
Bengaluru:
India’s second largest telecom operator Bharti Airtel on Monday reported 22.2% growth in quarterly revenue, increased subscriber base, and more than five times its consolidated profit to Rs 1,607 crore for the first quarter ended June 30. increased.
According to a regulatory filing, the company’s consolidated revenue from operations rose to Rs 32,805 crore ($4.12 billion) for the quarter ended June 30, from Rs 26,854 crore in the same period last year.
Airtel’s profit jumped manifold to Rs 1,607 crore. The company had made a profit of Rs 283.5 crore in the same period a year ago.
Its consolidated revenue from operations grew nearly 22 per cent to Rs 32,805 crore from Rs 26,854 crore a year ago.
The company’s revenue grew 24 per cent to Rs 23,319 crore in the June 2022 quarter, from Rs 18,828.4 crore in the year-ago quarter.
Bharti Airtel’s mobile services revenue in India grew 27 per cent year-on-year to Rs 18,220 crore in the first quarter from Rs 14,305.6 crore.
Reuters reported that average revenue per user (ARPU) – a key performance indicator in the telecommunications industry – came in at Rs 183 ($2.30) for the quarter, up from Rs 146 a year ago. The ARPU of rivals Reliance Jio and Vodafone Idea stood at Rs 175.7 and Rs 128, respectively, for the same period.
Analysts expect the residual impact of the tariff hike late last year to boost Q1 ARPU.
Airtel said mobile data consumption There was an increase of 16.6% compared to a year ago, with 19.5 GB consumption per month per mobile data subscriber.
The company said in November, when it announced the tariff hike, that the mobile ARPU should be at Rs 200 and eventually at Rs 300, for an economically sound business model.
The company is raising funds to meet its digital ambitions, which include developing home broadband, data center, cloud adoption as it prepares to launch its next generation 5G services in the country.
Airtel won 5G spectrum worth $5.4 billion in the country’s $19 billion auction last week. The government aims to begin the rollout of 5G – which it says can deliver data speeds about 10 times faster than 4G – by October this year.