Bharti Airtel Q3 net profit surges 91.5% to ₹1,588 cr

Total revenue rose nearly 20% year-on-year to ₹35,804 crore in the December quarter (Q3FY23) "backed by strong and consistent performance delivery across the portfolio"

Telecom operator Bharti Airtel on Tuesday reported a 91.5% year-on-year rise in consolidated net profit to ₹1,588 crore for the October-December quarter of 2022-23.

Total revenue rose nearly 20% year-on-year to ₹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 ₹1,588 crore for the just ended quarter, translating into an increase of 91.5% year-on-year. The consolidated net income (before exceptional items) at ₹1,994 crore, was up by 147% year-on-year, it added.

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%, while EBITDA margin expanded to 52%. 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 ₹193," Mr. 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.