Airtel Q1 net profit flat on year; ARPU rises to Rs200 vs Rs193 in Q4

Bharti Airtel’s consolidated net profit for the first quarter was flat on-year, and down more than 46% sequentially, dragged by a hefty exceptional loss caused due to a currency devaluation in Nigeria, even as the absence of tariff increases and aggressive 5G expansion for its India mobile business weighed.

Airtel’s consolidated net profit fell sequentially to Rs 1,612.5 crore, dented by losses at its Africa unit. As a result, the telco, in which SingTel owns nearly 30%, missed estimates as analysts had pencilled in a net profit in excess of Rs 2,355 crore.