Bharti Airtel Q1 net profit flat at Rs 1,612 cr, revenue rises 14%

New Delhi: Telecom operator Bharti Airtel on Thursday posted a net profit of Rs 1,612 crore for the first quarter ended June 2023, which is nearly flat over earnings in the same period of the previous year.

The revenue for the just-ended quarter was 14 per cent higher at Rs 37,440 crore compared to the year-ago period "backed by strong and consistent performance delivery across the portfolio", the company said.

"We have delivered yet another quarter of strong and competitive growth across all our businesses...Our focus on winning quality customers and driving premiumisation has helped us add 5.6 million new 4G customers and the highest ever postpaid customers in any one quarter," managing director Gopal Vittal said in a statement.

Mobile services India revenues were up 12.4 per cent year on year led by continued strong 4G customer additions and an increase in Average Revenue Per User (ARPU).

The consolidated net income (after exceptional items) stood at Rs 1,612 crore, up by 0.3 per cent over the corresponding period of the previous year. The consolidated net income (before exceptional items) stood at Rs 2,902 crore, up by 91.3 per cent year on year.

The company said that Mobile ARPU (a key metric for telecom operators) increased to Rs 200 in the first quarter of FY24 against Rs 183 in April-June FY23.