Bharti Airtel: Profit Up By 164% In Q4 The net profit stood at INR 2,008 during the period under review compared with INR 760 crore in the year-ago period

Bharti Airtel on Tuesday reported a 164 per cent increase in consolidated net profit for the quarter ended March 31, 2022. The net profit stood at INR 2,008 during the period under review compared with INR 760 crore in the year-ago period.

Total revenues stood at INR 31,500 crore, an increase of 22.3 per cent year-on-year. The telecom major continues to gain a strong share of the 4G customers in the market and surpassed the 200-plus million mark towards the end of Q4'22.

"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. The mobile business revenues were up 9.5 per cent as we saw the full flow through of tariff increase. 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," said Gopal Vittal, MD and CEO, India and South Asia.

"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 is backed by our strong governance focus," he added.

Its average revenue per user (ARPU) stood at INR 178 for the quarter and the company reported an EBITDA of INR15,998 crore, up 27.1 per cent in Q4.