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Airtel's Profit Soars on Customer Upgrades
5 Feb
Summary
- Bharti Airtel reported a 34.4% profit increase for the quarter.
- Subscriber upgrades to higher-margin plans fueled growth.
- Customer base expansion contributed to the profit rise.
Bharti Airtel, India's second-largest mobile operator, achieved its seventh consecutive quarterly profit increase, signaling robust financial health. The company's consolidated pre-tax profit experienced a significant rise of 34.4%, reaching 125.58 billion rupees for the fiscal quarter ending December 31.
This commendable financial performance is largely attributed to customers migrating towards higher-margin telecom plans. Simultaneously, Airtel has observed a steady expansion in its overall customer base, further contributing to its profitability.
For the same quarter in the prior year, Airtel's profit included a substantial exceptional gain of 75.5 billion rupees. This gain was primarily derived from an enhanced valuation of the company's investment in Indus Towers, a telecom infrastructure provider.
