Bharti Airtel’s net profit for September quarter zoomed 300% on quarter-on-quarter basis
Bharti Airtel’s consolidated net profit for the second quarter of the current fiscal stood at Rs 1,134 crore and was a massive 300 per cent more than Rs 283 crore net profit recorded in the first quarter of 2021-22. The huge jump in profits was mainly due to higher revenues clocked by the company during the July-September quarter of 2021-22.
Incidentally the telecom major had recorded a loss of Rs 763 crore in the corresponding period of last year.
The revenue from operations went up by 5.4 per cent to Rs 28,326 crore in the September quarter as against Rs 26,853 crore recorded in the June quarter of current fiscal. On a year-on-year basis, the revenues rose 13 per cent as against Rs 25,060 crore of the last year period.
“We continue to maintain high degree of financial flexibility. As a result, we have now achieved Nil bank debt for our India businesses. We will continue to evaluate all options to maintain comfortable leverage profile and manage associated costs. During the quarter gone by, we sustained our operational excellence with a healthy 5.5 per cent sequential growth in consolidated revenues and expansion of EBITDA margin to 49.5 per cent,” said managing director and CEO of Bharti Airtel, Gopal Vittal.
Consolidated earnings before interest, taxes and depreciation or EBITDA of the company was at Rs 14,018 crore for the September quarter.
Airtel’s average revenue per user (ARPU) improved to Rs 153 in the second quarter as against Rs 143 in the year ago period.
Segment wise, revenues from India mobile services business were at Rs15,191 crore as compared to Rs 13,831 crore in the year-ago period.
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