Bharti Airtel Third-Quarter Net Profit Rose on Strong India Mobile Services — Update
By Kosaku Narioka
Bharti Airtel's third-quarter net profit rose, driven by higher earnings from its mobile services in India.
The Indian telecom company said Monday that net profit increased 54% from a year earlier to 24.42 billion rupees ($294.2 million) for the three months ended Dec. 31. The result fell short of the INR26.34 billion estimate in a poll of analysts by FactSet.
Quarterly profit from its mobile services in India climbed 19% to INR47.945 billion as its customer base grew 4.0% to 345.6 million and average revenue per user increased 7.5% to INR208 a month.
Meanwhile, profit from its mobile services in Africa dropped 7.3% to INR34.14 billion.
Revenue for the period rose 5.9% to INR378.995 billion.
The company's earnings before interest and taxes margin was 26.0%, compared with 25.9% a year earlier.
Its capital expenditure declined 0.4% to INR92.74 billion in the third quarter.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
February 05, 2024 06:15 ET (11:15 GMT)
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