Airtel Gains Net Profit of Rs. 2,008 Crore in FY22
According to reports, Bharti Airtel reached a near three-fold increase in its net profit to Rs. 2,008 crore in fourth quarter FY 22 led by gains from tariff hike and exceptional income.
In the same quarter last year Airtel had posted a net profit of Rs 759 crore.
Reports suggest that, consolidated revenue for the quarter rose 22.3 percent to Rs. 31,500 crore on a year-on-year basis while average revenue per user (ARPU) grew 9.2 percent sequentially and by over 22 per cent on a year on year basis to Rs. 178.
Mobile service providers undertook a 20 percent tariff hike last November resulting in revenue growth for all the companies.
Airtel’s fourth quarter result was also boosted by exceptional income of Rs. 906 crore including gains from sale of telecom tower assets and settlement with a strategic vendor.
At an operating level the company registered a 27 percent year on year growth in profit to Rs 15,998 crore while operating margins rose by a modest 1.9 percentage point to 50.8 per cent.
Airtel continues to have the highest ARPU at Rs. 178. Our Homes and enterprise business continue to exhibit very strong growth momentum, reflecting the resilience of our overall portfolio
Gopal Vittal, managing director and chief executive officer (South Asia), Airtel says, “the mobile business revenues were up 9.5 percent as we saw the full flow through of tariff increase. Airtel continues to have the highest ARPU at Rs. 178. Our Homes and enterprise business continue to exhibit very strong growth momentum, reflecting the resilience of our overall portfolio. Our strong balance sheet and cash flows have enabled us to further repay some of our spectrum liabilities ahead of schedule and improve our leverage.”