Bharti Airtel reports 54% rise in net profit in Q3

Bharti Airtel Ltd has announced robust financial results for the quarter ending December 31, 2023, with a notable 54% surge in consolidated net profit. The telecom giant reported a consolidated net profit of Rs 2,442 crore, marking a substantial increase from Rs 1,588 crore in the corresponding period of the previous year.

The company’s consolidated revenue from operations witnessed a significant 6% growth, reaching Rs 37,900 crore in Q3 FY24, compared to Rs 35,804 crore in Q3 FY23. The Average Revenue Per User (ARPU) grew 7.7%, improving to ₹208 in the third quarter, up from ₹193 in the same period of the previous fiscal year.

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The company’s EBITDA was Rs 200,443, an 8% YoY growth as compared to Rs 186,007 from previous year.

Airtel’s stock on BSE experienced a 3% decline, closing at Rs 1,113.1 on Monday.