Airtel Payments Bank net profit surges 141% in FY23

Airtel Payments Bank, the fintech arm of Bharti Airtel, has reported a 141% jump in its net profit to Rs 21.7 crore for FY23. Revenue witnessed a 37% increase to Rs 1,291 crore.

Airtel Payments Bank recorded growth in all three core business segments – the urban digital consumer, the rural underbanked, and industries & businesses, it said in a statement. Diversified product offerings like digital payments, money transfers, insurance, referral credit and collection management services contributed to its growth.

In the January-March quarter, revenues grew 19% QoQ to Rs 379 crore.