In the third quarter of the fiscal year 2024, Airtel showcased robust financial performance, with a net profit of Rs 2,442 crore, marking a significant year-on-year increase of 53.8%. The telco demonstrated substantial growth in its 4G/5G customer base, adding an impressive 7.4 million new subscribers during the quarter. A noteworthy shift was observed in Airtel’s overall mobile customer base, with over 71% now embracing 4G/5G connectivity. Additionally, the company experienced a positive trajectory in its postpaid mobile segment, witnessing a growth of 0.9 million subscribers during the same quarter. Airtel’s dynamic performance underscores its continued commitment to expanding its customer base and adapting to the evolving landscape of mobile telecommunications.
Bharti Airtel, a major player in India’s telecom landscape, has unveiled its financial and performance report for the third quarter of FY 2024, showcasing notable achievements and substantial growth. The telco reported a staggering net profit of Rs 2,442 crore, marking an impressive quarter-on-quarter (QoQ) growth of 83% from Rs 1,340 crore in the previous quarter.
The highlight of the results was the average revenue per user (ARPU), which increased to Rs 208 without a major hike in mobile tariffs. Airtel’s strategic approach to revenue generation was evident in its strong quarterly revenue, which totaled Rs 37,900 crore, showing a significant growth of 5.9% year-on-year (YoY), albeit partially offset by currency devaluation in Africa. Was impressed.
Key metrics unveiled in Q3 FY24:
- Growth in net profit: Airtel’s net profit reached Rs 2,442 crore in Q3FY24, showing a substantial growth of 53.8% YoY.
- 4G/5G subscriber growth: The telco added an impressive 7.4 million 4G/5G subscribers during the quarter, with over 71% of its total mobile subscriber base now adopting advanced connectivity.
- Postpaid growth: Airtel’s postpaid mobile subscriber base grew significantly by 0.9 million during the quarter, taking the total to 48.3 million (including IoT).
- Mobile data consumption: Mobile data consumption saw significant growth, increasing by 21.1% year-on-year and reaching 22GB per month.
- Digital TV Subscriber Growth: Airtel reported growth in its digital TV (DTH) service subscribers, adding 388,000 during the quarter, the highest in the last 12 quarters.
- Capex and network expansion: The telco invested Rs 7,756 crore in capital expenditure (capex) during the quarter, deploying 12,300 towers to strengthen its network coverage.
- Home Business Growth: Airtel’s Home business saw a strong growth of 359,000 customers during the quarter, taking it to a total base of 7.3 million available across 1,267 cities across India.
- DTH subscriber base: Airtel’s total digital TV subscriber base stood at 16.1 million at the end of the quarter.
Gopal Vittal, Managing Director, Bharti Airtel highlighted the strong growth trajectory in postpaid and home business along with the remarkable performance of the DTH business. Despite achieving an industry-leading ARPU of Rs 208, Vittal stressed the need for tariff overhaul to ensure the health of the industry, while recognizing the continued importance of strategic adjustments in the dynamic market scenario.
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