Bharti Airtel's Revenues Up 22% Yoy, Net Profit 165% In Q4FY...| MENAFN.COM

Thursday, 11 August 2022 03:35 GMT

Bharti Airtel's Revenues Up 22% Yoy, Net Profit 165% In Q4FY22


(MENAFN- IANS)

New Delhi, May 17 (IANS) Telecom service provider Bharti Airtel posted quarterly revenues of Rs 31,500 crore in Q4FY22, up 22.3 per cent year on year.

The sharp rise in revenues was backed by strong and consistent performance delivery across portfolios.

The company's India business posted quarterly revenues of Rs 22,500 crore, up 22.7 per cent on year.

Mobile services revenues in India were up 25.1 per cent on year, led by increase in average revenue per user (ARPU), largely on account of flow through of tariff increase done in late 2021. Mobile ARPU increased to Rs 178 in Q4FY22 as against Rs 145 in the same period the previous fiscal.

It reported a 165 percent growth in its consolidated net profit of Rs 2,008 crore in the said quarter, as against Rs 759 crore in the year ago period.

Besides, digital TV continued to amass its strong market position.

Further, 4G customers rose by 21.5 million on year and 5.2 million on quarterly basis, thereby crossing 200+ million milestone which is 62 per cent of the overall customer base, Bharti Airtel said in filing to the exchanges.

It rolled out additional 7,000 towers in the quarter to provide ubiquitous connectivity and differentiated network experience.

'Airtel continues to have the highest ARPU at Rs 178. Our Homes and enterprise business continue to exhibit very strong growth momentum, reflecting the resilience of our overall portfolio. Our strong balance sheet and cash flows have enabled us to further repay some of our spectrum liabilities ahead of schedule and improve our leverage,' said Gopal Vittal, MD and CEO, India & South Asia.

'We continue to remain optimistic about the opportunities in the coming years and believe we are well poised as a company for three reasons.'

This, he said, were firstly, its ability to execute consistently to a simple strategy of winning with quality customers and delivering the best experience to them.

Secondly, its future proofed business model with massive investments in both infrastructure and digital capabilities, and lastly, the financial prudence backed by the strong focus on governance.

--IANS

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