Bharti Airtel registered continued ARPU and subscriber gains in its fiscal Q2 2024 (ending 30 September), but its bottom-line was hit by one-time extraordinary charges.
In earnings documents, MD Gopal Vittal noted it posted another quarter of solid revenue growth and improved margins, with domestic sales continuing to gather momentum aided by an ongoing focus on acquiring high-value customers.
Net profit dropped 37.6 per cent year-on-year to INR13.4 billion ($160.9 million) due to charges of INR15.7 billion, currency fluctuations and higher capex.
Revenue rose 7.3 per cent to INR370.4 billion.
Mobile service revenue in India rose 11 per cent to INR209.5 billion, with subscribers up 7 per cent to 389.5 million and data usage 19.6 to 21.7GB a month.
Capex in fiscal H1 2024 was up 81 per cent to INR92 billion, with 88,600 base stations added for a total of 876,000.
African fiscal Q2 revenue grew 19 per cent to $1.3 billion, with data up 26.5 per cent to $435 million and average monthly data usage 16.1 per cent to 5.2GB.
Its mobile user base increased 9.7 per cent to 147.7 million.
Airtel Money revenue grew 30.5 per cent to $212 million, with active customers rising 23.1 per cent to 36.5 million.
Capex in Africa was flat at $312 million.
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