Mumbai: Telecom major Bharti Airtel recorded a net profit of ₹1,341 crore in the second quarter of fiscal year 2023-24 (Q2FY24), which is 37% lower as compared to ₹2,145.2 crore reported in the year-ago period, as per the financial results declared by the company on October 31.
Airtel’s average revenue per user (ARPU) improved to ₹203 during the quarter under review, as against ₹190 in the corresponding period of the previous fiscal. The Bharti Airtel clocked a revenue of ₹34,527 crore in the September 2023 quarter, 7% higher than ₹37,044 crore in the year-ago period.
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The net revenue of the India operation of the Airtel has reached ₹26,995 crore, displaying a significant 10.9% YoY growth. India business posts EBITDA of ₹14,561 crore, EBITDA margin at 53.9%, up 214 bps YoY.
Airtel’s customer base stands at approximately 389 million users. The postpaid segment had its best quarter yet, adding 1.0 million new customers in Q2FY24, expanding the customer base to 43.9 million, including IoT subscribers.
Over the last year, Airtel inducted 27.2 million new 4G/5G data customers, reflecting a remarkable 12.9% YoY growth. Accordingly, average data usage per data customer was recorded 21.7 GBs per month.
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The Bharti Airtel invested in its network coverage by deploying approximately 11.1k towers during the quarter. Also the company has expanded its broadband network in 1,239 cities across the country.
The homes business witnessed sustained momentum with the highest-ever net addition of 471,000 customers in Q2FY24. Airtel digital TV continues to consolidate its strong market position, boasting a customer base of 15.7 million at the end of the quarter.
Across Airtel’s key digital assets, including Thanks, Xstream, and Wynk, the company has achieved a customer base of more than 210 million monthly active users (MAUs). The company has recorded capital expenditure (Capex) for the quarter amounted to ₹7,778 crore.
