Telecom major Bharti Airtel reported consolidated net profit on Monday 2,145 crore for the quarter ended September 30, 2022. This is an increase of 89% when compared 1,134 crore in the corresponding quarter of last year.
On a quarterly basis, Airtel reported 33.5% growth in consolidated net profit for the quarter.
Company’s revenue from operations grew 21.9% year-on-year (YoY) 34,527 crores in the quarter under review (Q2FY23), backed by strong and consistent performance delivery across the portfolio and crossing 500 million customers globally.
It had reported the revenue of 28,326 crore in the same period last year, the telco said in a regulatory filing.
Analysts had expected the company to report a 75 to 110% year-on-year increase in net profit for the quarter, while its revenue growth is expected to be around 20%.
Bharti Airtel’s Average Revenue Per User (ARPU) Increases 190 in Q2FY23 183 in Q1FY23.
Consolidated EBITDA or earnings before interest, taxes, depreciation and amortization jumped 6.7% for the quarter 17,721 crore, while operating margin increased from 50.6% to 51.3% on a QoQ basis.
Ahead of the results on Monday, Airtel’s stock closed with a gain of 1.85 percent on the NSE. 832.00 each. Shares of Airtel have climbed 19.4% so far this year.
airtel 5g service
Airtel recently said that its 5G services have gone live in eight cities of Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Siliguri, Nagpur and Varanasi. Customers availing 5G services will have to pay as per their existing 4G plan.
Sunil Mittal, founder and chairman of Bharti Enterprises, had announced the launch of 5G service in 8 cities on 1 October.
Currently, 5G models from Apple, Samsung, Xiaomi, Vivo, Oppo, Realme and OnePlus are compatible with the Airtel 5G Plus service.
Compatible models include Samsung’s flagship devices including Fold series, Galaxy S22 series, Samsung M32, iPhone 12 series and later models, Realme 8S 5G, Realme X7 series, Realme Narzo series, Vivo X50 onwards K smartphones, Vivo iQOO series, Oppo Reno 5G Pro. And other devices in the same series were launched later, OnePlus 8 and later smartphones etc.
According to industry players, mobile customers will get speeds of up to 600 megabits per second in 5G networks during the launch phase and the handset is expected to function similar to professional computers to access apps and data processing.
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