Bharti Airtel's Q3 Performance: Net Profit Surges by 54% to Rs 2,442 Crore
Bharti Airtel Ltd, a leading telecom company, marked a notable financial achievement in the quarter concluding on December 31, 2023.
Experiencing a robust growth of 54%, the consolidated net profit soared to Rs 2,442 crore, surpassing the Rs 1,588 crore reported in the corresponding period the previous year.
The company's overall revenue from operations displayed a commendable 6% uptick, reaching Rs 37,900 crore in Q3FY24 compared to Rs 35,804 crore in Q3FY23.
The company stressed that the growth in profit was kindly impacted by currency devaluation in Africa.
The Average profit Per stoner( ARPU) endured a modest increase, reaching Rs 208 in Q3FY24, compared to Rs 203 in the former quarter( Q2FY24).
Despite the positive fiscal results, Airtel's stock on BSE witnessed a 3 decline, closing at Rs 1,113.1 on Monday.
Airtel emphasized a reduction in consolidated net debt( banning parcel scores) to Rs1.42 lakh crore in Q3FY24, down from Rs1.54 lakh crore in the same period the former time.
Regarding India profit, Airtel recorded an emotional11.4 Time- on- Time growth, amounting to Rs 27,811 crore during Q3FY24.
Airtel's client base increased by 4 Time- on- Time, with34.56 crore guests as of December 31, 2023, compared to33.22 crore in the matching quarter of the former time.
The 4G/ 5G data client base reached24.5 crore, witnessing an increase of 74 lakh Quarter- on- Quarter and2.82 crore Time- on- Time.
Charges saw a4.23 rise to Rs 18,085 crore, attributed to increased spending on diapason charges, marketing, and network operations. duty charges also rose nearly 15 to Rs 1,232 crore.
A one- time charge of Rs 130 crore was reported by Airtel, linked to a foreign exchange net loss due to currency devaluation in its group accessories.
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