Bharti Airtel Q3 net surges fivefold to ₹16,135 crore on one-time gain 

Bharti Airtel Ltd. reported a five-fold surge in consolidated net profit for the third quarter ended December 31 to ₹16,135 crore on one-time gain of ₹7,546 crore from the disinvestment of majority stake in Indus Tower.

Consolidated revenue grew 19% to ₹45,129 crore driven by ‘strong momentum in India and continued underlying growth in constant currency in Africa’, the company said.

The quarter also had partial impact of Indus Towers consolidation for 43 days, it added.

India revenue at ₹34,654 crore, increased by 24.6% YoY. Mobile revenue grew 21.4% YoY led by the residual impact of tariff flow through relentless focus to premiumise the portfolio with quality customers.

“We continue to deliver industry leading ARPU growth. ARPU for the quarter stood at ₹245 as compared to ₹208 the year ago period,” the company said.

Gopal Vittal, vice-chairman and MD, said, “We delivered another consistent quarter. Indus Towers consolidation is effective this quarter. Our balance sheet remains solid, supported by robust cash generation, prudent capital allocation and continued deleveraging.”

“During the quarter, we prepaid another tranche of ₹3,626 crore of high-cost spectrum dues. At the same time, we believe the industry needs further tariff repair to ensure sustained investments and long-term value creation,” he added