Bharti Airtel net profit at Rs 284 crore in June quarter; revenue rises 15.3 per cent

CHENNAI: Telecom major Bharti Airtel on Tuesday reported a consolidated net profit of Rs 284 crore for the quarter ended June 2021, the first quarter of the current financial year (Q1FY22), while its revenues for the period came in at Rs 26,854 crore. The company had recorded a massive loss of Rs 15,933 crore in the corresponding quarter of the previous financial year (Q1FY21) and a revenue of Rs 23,290 crore.

In terms of revenue, the company has recorded a 15.3% year-on-year growth, with officials stating that adjusted for the removal of the Interconnect Usage Charges (IUC) mechanism (stopped from January 1 this year) revenues have grown 21%. While increased costs saw its profits nearly halved on a sequential basis from Rs 759 crore in the previous quarter, the company has registered a marginal increase in the key average revenue per user (ARPU) metric.