Airtel Q1 net profit jumps 467% on year, down nearly 20% vs 4Q; ARPU at Rs183

New Delhi: Bharti Airtel consolidated net profit for the fiscal first quarter jumped 467% on-year, on the back of 4G user additions and higher data consumption, besides the residual effect of the price hikes, boosting average revenue per user (ARPU).

India’s second largest telco, however, missed estimates while posting a net profit of Rs 1,606.9 crore, which slumped almost 20% from the fourth quarter of FY22, when it reported a one-time gain of Rs 984.7 crore. Sequential profit also fell as subscriber additions slowed on-quarter and on the back of higher costs, including operational and finance expenses.

This was Airtel’s seventh successive quarter in the black after six straight losses earlier. Analysts were expecting net profit of around Rs 1,900 crore.