Bharti Airtel Q4 profit surges 165 per cent to Rs 2,008 crore

Source: ANI

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New Delhi, May 17: Telecom firm Bharti Airtel on Tuesday reported a consolidated net profit of Rs 2,008 crore for the quarter ended March 2022 as compared to Rs 759 crore profit recorded in the corresponding period of the last year, posting year-on-year growth of 165 points.

The company’s profit has surged 142 per cent quarter-on-quarter basis. Bharti Airtel posted Rs 830 crore net profit during the third quarter of 2021-22.

The company’s consolidated revenues for the fourth quarter of 2021-22 surged by 22.3 per cent to Rs 31,500 crore.

“This has been another quarter to cap a full year of consistent and competitive performance across our portfolio. Our consolidated revenues for the quarter grew by 5.5 per cent and EBITDA margins expanded to 50.8 per cent, underscoring our focus on all round delivery,” Gopal Vittal, MD and CEO, India & South Asia, Bharti Airtel, said in a statement.

“The mobile business revenues were up 9.5 per cent 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,” Vittal said.

“We continue to remain optimistic about the opportunities in the coming years and believe we are well poised as a company for three reasons. First, our ability to execute consistently to a simple strategy of winning with quality customers and delivering the best experience to them. Second, our future proofed business model with massive investments in both infrastructure and digital capabilities. Finally, our financial prudence backed by our strong governance focus,” he added.

Bharti Airtel’s India revenues for the fourth quarter of 2021-22 rose to Rs 22,500 crore, registering a year-on-year increase of 22.7 per cent.

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