Bharti Airtel crosses 10 million unique 5G users
Telecom major Bharti Airtel has crossed 10 million unique users on its 5G network since its launch in October 2022. The company said it had crossed 1 million 5G subscribers in November 2022, within a month after its commercial rollout.
Presently, Bharti Airtel’s 5G Services are present in all states and is on track to provide 5G coverage in every rural village and town by the end of March 2024, the telco said in a release.
In order to elevate the customer experience, Bharti Airtel has created 5G zones in their retail outlets where users can walk in and experience the high speeds offered by a 5G network.
“These are early days, but we are thrilled with the response we have received from our customers. Airtel will continue to stay true to its commitment to build a more connected, equitable and sustainable network,” said Randeep Sekhon, CTO, Bharti Airtel.
At the end of the December quarter, Bharti Airtel added 6.4 million 4G users, taking its user base to 332.24 million subscribers.
“With cutting edge 5G infrastructure, a fantastic partner ecosystem and a dedicated workforce that is customer obsessed, we believe we are in the right path to win and deliver a world-class 5G Plus experience to customers across the length and breadth of the country,” Sekhon added.
What do the financials say?
Bharti Airtel recently reported strong earnings for the quarter ended December 2033 registering a significant on-year rise in its consolidated net profit with an increase in Average Revenue Per User (ARPU). The company’s net profit rose 91% to Rs 1,588.2 crore in Q3FY23 from Rs 829.6 crore in the year-ago period.
Its revenues from operations increased to Rs 35,804 crore, which was up by 20% on a year-on-year basis. ARPU per month during the quarter rose to Rs 193 as compared to Rs 163, YoY, and Rs 190, QoQ. This can be mainly credited to tariff hikes taken by the company.
However, on a sequential basis, Bharti Airtel’s bottomline declined by a sharp 47%, while topline increased by 3.7%.
The earnings before interest, taxes, depreciation and amortization (EBITDA) of the telco was recorded at Rs 18,601 crore. The operating margin increased to 205 basis points to 52% on a year-on-year basis.
The stock price of Bharti Airtel has lost more than 7% this year so far. The company has a market capitalization of more than Rs 4 lakh crore and is one of the top telecom companies in India.
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