Bharti Airtel on Monday reported a consolidated net profit of Rs 2,145 crore for the September quarter, an 89% increase compared to Rs 1,134 crore in corresponding quarter of last year.
On sequential basis, Airtel reported a 33.5% rise in consolidated net profit for the quarter.
The company's revenue from operations rose 21.9% year-on-year (YoY) to ₹34,527 crore in the quarter under review (Q2FY23). On sequential basis, the company reported a 5.3% rise in consolidated revenue.
Revenue from the mobile services business grew 4% sequentially to Rs 18,958 crore. Home services vertical revenue grew nearly 7% to Rs 990 crore, while that of digital TV services fell 2.5% to Rs 729 crore.
Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 6.7% on quarter to Rs 17,721 crore while the operating margin improved to 51.3% from 50.6% on a QoQ basis.
The growth in average revenue per user (ARPU) for Airtel rose 3.6% sequentially to Rs 190.
On Monday, Airtel's scrip on NSE closed 1.85% higher at Rs 832.00 apiece. So far this year, shares of Airtel have rallied 19.4%.
Airtel CEO Gopal Vittal said the company is now rolling out 5G and exuded confidence that Airtel 5G Plus will deliver the best experience in India.
"At the same time we remain concerned about the low ROCE (Return on Capital Employed) that our business delivers due to pricing that is the lowest in the world. Given the large investments required to drive digital adoption in India, we believe there is a need for tariff correction," Vittal said.