Bharti Airtel Q1 Results: Net Profit Zooms 467% YoY To Rs 1,601 Cr

Telecom giant Bharti Airtel on Monday released its financial results for the quarter ended June 30, 2022 and reported a 467 per cent jump in its net profit at Rs 1,601 crore compared to Rs 284 crore in the same quarter last year.

Its consolidated net revenue also shot up 22.2 per cent year-on-year (YoY) to Rs 32,805 crore.

Its Average Revenue Per User (APRU) also grew to Rs 183 compared to Rs 146 in the same quarter last year.

Year-on-year growth was aided by a healthy addition of subscribers as well as an improvement in average revenue per user after a round of tariff hikes.

“This has been another solid quarter and we continue to deliver strong and sustained growth at 4.5 percent sequentially” said Gopal Vittal, MD & CEO while commenting on the performance for the quarter.

Strong addition of customers in the home business aided the growth of 41.9 percent on year in its revenues.

Airtel now has a customer base of 36.2 crore in India.

The revenues for the Africa business in constant currency (CC) increased by 15.3 percent on year and its customer base in the dark continent now stands at 13.16 crore subscribers.