India (Commonwealth) _Bharti Airtel (Airtel) announced a consolidated net profit of 1,341 crore for the second quarter (Q2) ended September 30, a 37.5 percent decrease year on year (y-o-y) from 2,145 crore in the same time previous year.
However, the company’s consolidated revenue increased 7.3% year on year to 37,044 crore during the quarter under review, compared to 34,527 crore in the July-September quarter last year, thanks to strong and consistent performance in India operations, according to Airtel.
India’s revenue for the second quarter of 24 increased by 11% to 26,995 crore (24,333 crore). Mobile revenue increased by 11% due to better realization and significant 4G/5G client additions throughout the year. According to the company, average revenue per user (ARPU) for the quarter was 203, up from 190 in Q2 FY23, due to a continued focus on adding high-value clients and better realisations.
Another quarter of good sales growth and higher margins has passed. India revenue is gaining traction, increasing by 2.4% sequentially. However, the depreciation of the Nigerian Naira had an impact on our consolidated income. According to Gopal Vittal, Managing Director of Airtel, consolidated EBITDA margins increased to 53.1% as a result of a successful war on waste campaign.
He stated that the business added 7.7 million 4G/5G net additions and ended the quarter with an industry-leading ARPU of Rs.203, as well as the largest ever postpaid net additions of one million customers in Q2’24.
The firms’ Postpaid and Homes businesses maintained their strong growth momentum, as we added the most net additions in any of these sectors in any single quarter. Our performance is supported by a straightforward and consistent approach of focusing on quality clients and providing the finest experience possible in a seamless digital manner, according to Vittal.
Mobile data use increased by 19.6 percent, with consumption per subscriber reaching 21.7 GB per month during the period under review. According to Airtel, the homes business showed strong momentum development in the quarter, with the highest ever 4.71 lakh subscriber net additions. As of September 30, Airtel had around 389 million customers, a capex of 7,778 crore for the quarter, and a total workforce of 17,924 workers.
Airtel also disclosed that during the fiscal quarter ended September 30, the firm paid the Department of Telecommunications Rs. 8,024 crore as part prepayment of deferred obligations related to spectrum purchased in the 2015 auction. On the BSE, Airtel shares finished at 914.20, down 1.26 percent from the previous close.
Bharti Airtel Limited is a global leader in telecommunications. We are the most trusted provider of ICT services, with a worldwide network spanning the United States, Europe, Africa, the Middle East, Asia-Pacific, India, and the SAARC area. Airtel Telecommunications is one of the top three mobile service providers in the world (in terms of subscribers).
We are pushing the boundaries of digital service delivery with a key focus on enhanced end-user experience, round-the-clock infrastructure availability, and superior service quality through our diverse product portfolio and strategically located submarine cables and satellite network running across 365,000+ RKMs in 50 countries and 5 continents.
Bharti Airtel is India’s largest and most trusted provider of ICT services. Across India, the conglomerate serve over 1200 global organizations, 2000 major businesses, and 1 million medium/small businesses. Airtel Business provides a diverse portfolio of products and services to Enterprises, Government, Carriers, Small & Medium Businesses, OTTS, and Mobile Network Operators worldwide, including Data Connectivity, Voice & Messaging, Conferencing, Cloud, Data Center, Security, IoT, CPaaS (Airtel IQ), NaaS, Enterprise Mobility, Network Integration, and Professional services.
