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The telecom giant Bharti Airtel Limited’s shares fell 2.13 per cent to ₹1,627.85 at 10.40 am today in the NSE.
Bharti Airtel reported a 168 per cent year-on-year surge in consolidated net profit to ₹3,593 crore for the second quarter ended September 30, 2024. However, the post-tax profit declined 13.6 per cent.
The company’s quarterly revenue rose 12 per cent year-on-year to ₹41,473 crore, driven by strong performance in India and sustained growth in Africa. India business revenues grew 16.9 per cent to ₹31,561 crore, with mobile services revenue increasing 18.5 per cent.
Average Revenue Per User (ARPU) improved to ₹233 from ₹203 in the same quarter last year. The company added 4.2 million smartphone customers during the quarter.
Bharti Airtel’s MD Gopal Vittal emphasized the need for further tariff increases, noting that Return on Capital Employed (ROCE) for India remains at only 11 per cent. The company strengthened its balance sheet by prepaying ₹8,465 crore of high-cost spectrum dues in September 2024.
The customer base stands at approximately 563 million across 15 countries, with 407 million customers in India. The company also reported strong growth in its homes business, which saw revenue increase by 17.3 per cent year-on-year.
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