Sensex, Nifty Open At Record High; HDFC & ICICI Bank Top Gainers

Net profit for the quarter fell from Rs 7.6 bn in the January-March period, with muted average revenue per user (ARPU) growth due to a sharp slowdown in 4G net user adds because of the Covid second wave.

The telco had posted a loss of Rs 159.3 bn a year back.

Bharti Airtel's profit was its third successive quarter in the black after six straight losses.

ARPU, a key performance parameter for telcos, grew to Rs 1.5 bn.

Consolidated revenue grew 4.3% sequentially, and 15% year-on-year (YoY) to Rs 268.5 bn.

Airtel's overall India revenues increased 11% YoY to Rs 188.3 bn, which was also higher than Rs 183.4 bn reported in the previous quarter.

During the quarter, Airtel lost 135,000 users on a net basis to end with 321.23 m users.

Its total quarterly net 4G user adds too fell to 5.3 m from 13.7 m recorded in the January-March period, and 12.9 m in October-December.

Its competitor Reliance Jio, though, was largely unaffected by Covid and saw good traction on customer acquisitions, adding as many as 14.4 m 4G users in the June quarter.

Bharti Airtel share price has opened the day down by 1.6%.

1 2 3
View single page >> |

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.