Bharti Airtel logs 38% decline in Q2 profit at Rs 1,341 crore

1 Nov 2023 , 11:03 AM

On October 31, Bharti Airtel reported a consolidated net profit of Rs 1,340.7 crore for the quarter ended September, down 37.50% from Rs 2,145.2 crore in the same period last year.

The telecom services provider reported a 7.28% increase in income from operations to Rs 37,043.8 crore from Rs 34,526.8 crore in the previous fiscal’s equivalent quarter. 

The results fell short of expectations. According to the corporation, revenue growth in the current quarter was hampered by the flow-through of Nigerian Naira depreciation.

According to a press release, the company’s EBITDA was Rs 19,665 crore, up 10.96% from Rs 17,721.2 crore. The EBITDA margin shrank by 20 basis points to 53.10%. 

Total network minutes used during the quarter were 1,281 billion, up 8.5% from 1,180 billion in the same quarter last year, on a consolidated basis, which includes its operations in 17 countries. Mobile data traffic increased 20.7% to 15,966 petabytes (PBs; 1 PB equals 1,000 terabytes) during the quarter, up from 13,232 PBs in the previous quarter.

The average revenue per user (ARPU) per month for its Indian business increased to Rs 203, up 1.5% quarter on quarter. Analysts predicted that ARPU will increase by 1.6% to 2.2% quarter over quarter.

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