Bharti Airtel Q2 Results: Profit rises 34% QoQ to Rs 2,145 crore, misses estimates

Bharti Airtel on Monday reported a 33.5% sequential rise in consolidated net profit for the quarter ended September 2022 to Rs 2,145 crore. This is lower than ET Now poll estimate of Rs 2,372 crore.

Consolidated revenue grew 5.3% sequentially to Rs 34,527 crore, and was higher than ET Now analysts’ estimate of Rs 34,130 crore.

On a year-on-year (YoY) basis, the topline has grown by 22% and the bottomline by 89%.

Revenue from the mainstay 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 QoQ basis.

The growth in average revenue per user (ARPU) for Airtel was better than rival Reliance Jio. Airtel’s ARPU rose 3.6% sequentially to Rs 190, whereas RJio saw a meagre 0.8% rise.

More to come…

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