Net profit of Bharti Airtel stood at Rs 854 crore a 182% jump on-year as the company turned profitable.
Bharti Airtel has become the first telecom operator in India to demonstrate 5G readiness. (Image: Reuters)
Bharti Airtel has maintained its lead over Mukesh Ambani’s Reliance Jio in India’s telecom war, in at least one of the key operating metrics. The Sunil Bharti Mittal-led Airtel reported average revenue per user (ARPU) of Rs 166 in the fiscal third quarter, against Jio’s Rs 151 in the same period. Bharti Airtel had more to rejoice in the quarter under review, as the second-largest telecom in India by customer base turned profitable again.
Bharti Airtel’s fiscal third quarter net profit stood at Rs 854 crore, against a net loss of 1,035 crore in the same quarter a year ago. Further, the company recorded a 24% on-year increase in consolidated revenue, taking it to Rs 26,518 crore — its highest ever in a quarter. Earlier today, Bharti Airtel’s share price hit an all-time of Rs 622 per share before the earnings announcement, as investors anticipated the sharp uptick in performance.
Bharti Aitel’s Q3FY2021 Results: Key figures in a nutshell
India revenue — Up 25% on-year to Rs 19,007 crore
Mobile services — Up 32% on-year to Rs 14,778 crore
Consolidated EBITDA margins — 45.9%, up 464 basis points on-year
Revenue per tower per month (India) — Up 20% on-year to Rs 2.43 lakh
4G customer base — 16.5 crore (as on December 31, 2020)
“Over the last 4 quarters, the company has added ~42 Mn 4G customers to its network. ARPU continues to be the best in industry – average data usage per data customer at 16.4 GBs/month; while voice usage was at 1,027 mins/customer/month,” Airtel said in a statement. Gopal Vittal, MD and CEO, India & South Asia for Bharti Airtel added that the main highlight of the quarter for the company was its 1.3 crore 4G customer addition to the wireless business.
“Despite the unprecedented volatility that we have confronted through the year, we delivered another strong performance this quarter. This consistency in performance was across every part of our portfolio, as reflected in market share growth across all our business segments,” he added. Bharti Airtel recently became the first domestic telecom company to have demonstrated a LIVE 5G service over a commercial network. However, the company has stated that it will wait for the necessary actions to be completed before launching their 5G service.