Bharti Airtel Q2 PAT down to Rs 1,340.7 crore

Chennai: Telecom major Bharti Airtel Ltd on Tuesday said it had logged a net profit of Rs 1,340.7 crore for the second quarter, lower than what was logged during the previous year's corresponding period.

In a regulatory filing, the company said for the quarter ended September 30, 2023, its consolidated operational revenue stood at about Rs 37,043.8 crore (Q2FY23 Rs.34,526.8 crore) and a net profit of Rs 1,340.7 crore (Rs 2,145.2 crore).

Consolidated revenue growth was impacted by devaluation of Nigeria Naira and other currencies during the period, the company said.

India revenues for Q2FY24, at Rs 26,995 crore, increased by 10.9 per cent year-on-year (YoY). Mobile revenues grew by 11 per cent YoY on account of improved realisation as well as strong 4G/5G customer additions during the year.

The average revenue per user (ARPU) for the quarter stood at Rs 203 as compared to Rs 190 in Q2FY23 on the back of sustained focus on acquiring high value customers and improved realisations.

"We added 7.7 million 4G/5G net adds and exited the quarter with an industry leading ARPU of 203. Our Postpaid and Homes businesses continued their strong growth trajectory as we added the highest ever net adds in both these segments in any single quarter. Our performance is under pinned by a simple and consistent strategy of focusing on quality customers and delivering the best experience to them in a seamless digital way," Managing Director Gopal Vittal was quoted as saying in a statement.