Bharti Airtel Q3 Net Profit Zooms 91.5% to Rs 1,588 Crore

New Delhi: Telecom operator Bharti Airtel on Tuesday reported a 91.5 percent year-on-year rise in consolidated net profit to Rs 1,588 crore for the October-December quarter of 2022-23. Total revenue rose nearly 20 percent year-on-year to Rs 35,804 crore in the December quarter (Q3FY23) "backed by strong and consistent performance delivery across the portfolio", the company said in a statement.

Its consolidated net income (after exceptional items) stood at Rs 1,588 crore for the just-ended quarter, translating into an increase of 91.5 percent year-on-year. The consolidated net income (before exceptional items) at Rs 1,994 crore, was up by 147 percent year-on-year, it added. (Also Read: How to Check PF Balance Online? Use THESE 4 Simple Ways to do it)

Bharti Airtel Managing Director Gopal Vittal said the company delivered another quarter of consistent and competitive growth across businesses. "Revenue grew sequentially by 3.7 percent, while EBITDA margin expanded to 52 percent. (Also Read: New Encashment Rule: THESE Employees to Get Rs 20,000 Profit Per Year- Here's How)

Our strategy of winning quality customers has helped us add 6.4 million 4G customers and exit the quarter with an industry-leading ARPU of Rs 193," Vittal said. Postpaid, enterprise, homes as well as Africa business sustained their momentum while the DTH business showed signs of growth in an industry that continues to be under pressure, he pointed out.

The telco's 5G rollout is on track to cover all towns and key rural areas by March 2024, the top honcho said. Mobile ARPU (Average Revenue Per User) increased to Rs 193 in Q3 FY23 from Rs 163 in Q3'22, according to the company.