New Delhi: As the race to reach the top in Indian telecom continues, Airtel’s net profit rose 54 per cent to Rs 2,442 crore in the third quarter. Bharti Airtel on Monday reported 54 per cent rise in December quarter consolidated net profit to Rs 2,442.2 crore.
Green shoots in cut off market
Bharti Airtel had reported a profit of Rs 1,588.2 crore in the year-ago period, the company said on Monday. Consolidated revenue from operations during the third quarter of the current financial year increased by 5.8 per cent to Rs 37,899.5 crore from Rs 35,804.4 crore in the December 2022 quarter. Airtel’s India revenue during the quarter grew 11.4 percent year-on-year to Rs 27,811 crore.
Its average revenue per user in the country rose 7.7 percent to Rs 208 from Rs 193 a year ago. Meanwhile, Jio’s profit rose 3 percent quarter-on-quarter to ₹5,208 crore.
Airtel, one of the older players in the industry, is lagging behind Reliance-owned Jio in the market share battle, with Jio leading the way with 38.17 percent share, while Airtel is right behind at 32.57 (by 2023).
