Bharti Airtel's consolidated net profit falls 3% in Q3FY22
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Telecom operator Bharti Airtel's consolidated net profit fell 2.8 per cent during Q3FY22 to Rs 830 crore on a year-on-year basis.
In the same quarter of the previous fiscal, the consolidated net profit of the company stood at Rs 854 crore.
On the other hand, the total revenues during Q3FY22 grew 12.6 per cent to Rs 29,867 crore, as against Rs 26,518 crore in the same quarter last fiscal.
Besides, EBITDA grew 22.4 per cent to Rs 14,905 crore, against Rs 12,178 crore reported in the same quarter last fiscal.
"We have delivered another quarter of sustained performance across all our business segments... The recent tariff revision for mobile services has gone down well and we are exiting the quarter with an industry leading ARPU of Rs 163," said Gopal Vittal, MD and CEO, India and South Asia in a statement.
The full impact of the revised mobile tariffs, however, will be visible in the fourth quarter, he said.
"Our Enterprise, Homes and Africa business continue to deliver strongly, with steady increase in contribution to the overall mix of the portfolio. Our balance sheet is robust and we are now generating healthy free cash flows. This has enabled us to recently prepay some of our spectrum liabilities to the government thereby reducing the interest burden."
Furthermore, Google's recent investment in the company is a strong validation of Airtel's role in being a leading pioneer of India's digital revolution, the statement said.
"Our emerging digital services portfolio across Airtel IQ, AdTech, digital market place, Nxtra and digital banking positions us well to build an Airtel of the future," he added.
Headquartered in India, Airtel is a global communications solutions provider with over 480 million customers in 17 countries across South Asia and Africa.
