Airtel Q2 net profit jumps 10% to Rs 1,523 crore

New Delhi: Country’s top telecom operator Bharti Airtel Monday reported 10.1 percent jump in net profit to Rs 1,523 crore for the quarter ended September, bolstered by a sharp growth in mobile data usage.
It had reported net profit of Rs 1,383 crore on consolidated basis for the July-September quarter of the last financial year, Airtel said in a statement.
The total revenue rose 4.3 percent to Rs 23,836 crore during the second quarter of the current fiscal, compared with Rs 22,845 crore in the year-ago period.
With more people accessing high speed Internet on their smartphones, Airtel’s mobile data revenue grew 49.8 percent to Rs 3,806 crore and data traffic jumped 76.3 percent. That is 16 percent of the total revenues as compared to 11.1 percent in the corresponding quarter of the last fiscal.
The company witnessed, however, a sequential decline in voice minutes in the quarter under review, compared to the preceding quarter. Total minutes on network decreased to 336,002 million, as compared to 342,987 million in April-June period of the current fiscal, 2015-16. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were Rs 8,265.3 crore during the quarter, an increase of 6.7 percent as compared to Rs 7,749.4 crore in the year-ago period.
“Airtel’s revenue growth in India has accelerated to 13.3 percent in Q2 on an underlying basis, the highest in the last 12 quarters. With the commercial launch of 4G services across 334 towns and roll-out of 3G services in our gap circles, we are now best positioned in the industry to leverage the fast growing data market,” Bharti Airtel MD and CEO (India and South Asia) Gopal Vittal said. —PTI

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