A combination of better seasonality and improving subscriber mix also boosted the telco’s average revenue per user (ARPU) 3.6% sequentially to Rs 190.
India’s second largest telco missed estimates while posting a net profit of Rs 2,145.2 crore, which, though, was almost 33.5% higher than the first quarter of FY23. This was Airtel’s eight successive quarters in the black after six straight losses earlier. Analysts were expecting net profit of around Rs 2,850 crore.
Airtel’s consolidated revenue grew 22% on-year and 5.3% on-quarter to Rs 34,526.8 crore, further helped by a strong performance of the non-mobile businesses such as enterprise and home broadband.
“We have delivered yet another quarter with competitive revenue growth and improved margins…consolidated revenue grew sequentially by 5.3% and Ebitda margin expanded to 51.3%,” Gopal Vittal, Airtel’s MD, said in an official statement Monday.
He added that the consistency of Airtel’s execution was driven by the strength and resilience of its portfolio.
Airtel’s shares closed 1.76% higher at Rs 831.15 on the BSE Monday. Earnings were announced shortly after market hours.