Leading telecom company Bharti Airtel on Monday reported a 158% year-on-year rise in its consolidated net profit at Rs 4,160 crore for the first quarter ending June 30, 2024. Profit beat Street calculation by a wide margin.
In an ET Now poll, it was estimated that the profit would be around Rs 3,661 crore. Revenue from operations grew 3% year-on-year to Rs 38,506 crore in the period under review, slightly below the poll estimate of Rs 38,523 crore.
The company had reported a profit of Rs 1,612 crore and revenue of Rs 37,440 crore in the first quarter of the last financial year.
Revenue growth during the period under review was impacted by currency devaluations in Africa.
The company reported EBITDA of Rs 19,944 crore, a marginal increment of 1% year-on-year, while EBITDA margin lapse 95 bps year-on-year to 51.8%.
India’s revenue in the first quarter inflation 10% year-on-year to Rs 29,046 crore. Mobile revenues inflation 10% year-on-year during the quarter due to better realizations and continued subscriber grow.
ARPU stood at Rs 211 in the April-June 2024 period, compared to Rs 200 in the same period last year, driven by continued focus on acquiring quality customers and delivering greater value.
“We continue to deliver industry-leading ARPU increment along with inflation in average data usage per data customer,” Airtel said that in a release.
Airtel shares closed 1.66% lower at Rs 1,469 on the NSE on Monday.
