Airtel Q3 Results: Posts Net Profit Of Rs. 854 Crore

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Airtel has finally turned profitable in the Q3 of this financial year as it reported a net profit of Rs. 854 crore due to new customers and improved realizations. Besides, Airtel posted the highest revenue of Rs. 26,518 crore in the same quarter, which is 24.2 percent higher than FY20.

 

Airtel Q3 Results: Posts Net Profit Of Rs. 854 Crore

Airtel also said that it has managed to achieve the highest quarterly revenue of Rs. 19,007 crore, which is 25.1 percent up. In addition, Airtel gets Rs. 166 average revenue per user (ARPU) from Rs. 135 in the Q2 FY20. This is quite interesting as Reliance Jio achieves only Rs. 151 ARPU in the same quarter.

"The main highlight of the quarter was the around 1.3 crores 4G customers we added in Wireless business. As a result, we grew revenues by around 25 percent over the same period last year and margins expanded," Gopal Vittal, MD and CEO, India & South Asia said while announcing the Q3 results.

Furthermore, the telecom operator said it has attracted subscribers in the postpaid section. The operator added seven lakh customers in the postpaid section and 18 million users in the VoWi-Fi services in Q3 FY21. Notably, the telecom operator has launched VoWi-Fi services across all smartphones.

Meanwhile, Airtel announced that the board has approved its plans to raise Rs. 7,500 crores as it needs cash for the upcoming spectrum to invest in the networks and to clear all its dues. Furthermore, the telecom operator said that its home business has managed to add 2,15,000 new customers. This means that Airtel has been adding several customers and now it is offering its internet services to 2.79 million customers in the country.

As far as the Digital TV business is concerned, the firm reported 5.8 percent year-on-year growth. The company gets 4,85,000 new customers during the third quarter of the financial year. The digital services include Wynk Music, Xstream app, Airtel DTH services, and Thanks application.

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