Admin Source : Gadgets 360
India’s second largest telecom operator Bharti Airtel on Tuesday posted over two-fold jump in its consolidated net profit to Rs. 2,008 crore for the March quarter. The net profit stood at Rs. 759 crore in the year-ago period.
Airtel’s revenue from operations rose 22.3 percent to Rs. 31,500 crore during the fourth quarter of the financial year 2021-22, from Rs. 25,747 crore in the corresponding period of the previous year.
For the full-year fiscal year 2022, the Sunil Mittal-led telco logged a net profit of Rs. 4,255 crore against a loss of Rs. 15,084 crore in the previous fiscal (fiscal year 2021).
Bharti Airtel posted a revenue of Rs. 116,547 crore for fiscal year 2022, up from Rs. 100,616 crore recorded in the previous financial year. This translated into a topline growth of about 16 percent for full year.
Gopal Vittal, CEO, India and South Asia, Bharti Airtel, exuded optimism about the opportunities in the coming years, and said the company is “well poised” 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,” he said.
He also underlined the company’s financial prudence backed by its strong governance focus, as a strong point.
“The mobile business revenues were up 9.5 percent as we saw the full flow through of tariff increase. Airtel continues to have the highest ARPU at Rs. 178. 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,” Vittal said.
