Bharti Airtel Q2 result, profit up 89% YoY
Published On: Monday, October 31, 2022 | By: Team KnowMyStock
Bharti Airtel Ltd, India's No.2 telecom carrier by subscribers, reported a consolidated net profit of ₹2,145 crores for the quarter ending 30 September 2022. This is an increase of 89% when compared with ₹1,134 crores in the corresponding quarter of last year. helped by 4G subscriber additions. The company's consolidated revenue from operations was 345.27 billion Indian rupees ($4.17 billion) for the three months ended Sept. 30, compared with 283.26 billion rupees a year ago. Analysts had expected the company to report a 75 to 110% YoY growth in net profit for the quarter, while its revenue growth is expected around 20%. Consolidated EBITDA or earnings before interest, taxes, depreciation, and amortization jumped 6.7% for the quarter to ₹17,721 crores, while the operating margin improved to 51.3% from 50.6% on a QoQ basis.
"We have delivered yet another quarter with competitive revenue growth and improved margins. Our consolidated revenue grew sequentially by 5.3% and our EBITDA margin expanded to 51.3%. The consistency of our execution is driven by the strength and resilience of our portfolio," said Gopal Vittal, MD, and CEO, of India & South Asia.Vittal further said, "Our B2B and Homes business continued their strong growth momentum while Mobile ARPU expanded to 190 on the back of premiumization and deep customer understanding."
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