Bharti Airtel on Tuesday reported a 164 per cent increase in consolidated net profit to Rs 2,008 crore for the fiscal quarter ending March 31, 2022, up from Rs 760 crore the previous year.
Revenue from operations:
Consolidated revenue from operations increased by 22% to Rs 31,500 crore in Q4FY22, compared to Rs 25,747 crore in Q4FY21. Airtel’s average revenue per user (ARPU) rose by Rs 15 crore to Rs 178 crore in the December quarter.
On Tuesday, the company’s stock closed nearly 2% higher on the BSE at Rs 706. The company’s Board of Directors has recommended a dividend of Rs 3 per fully paid-up equity share of the face value of Rs 5 each.
Promising 5G Rollout:
As it prepares to launch its next-generation 5G services in the country, the company has been raising funds to fund its digital ambitions, which include developing home broadband, data centres, and cloud adoption.
Airtel announced on Sunday the establishment of its fourth digital technology hub in the country as part of its plans to expand its in-house digital engineering capabilities.
Airtel’s partnership with Google:
Alphabet Inc’s Google announced an investment of up to $1 billion in January. The deal includes an investment of $700 Million to acquire 1.28 per cent ownership in Airtel and up to $300 Million towards a potential multi-year agreement. The partnership is focused on enabling access to smartphones across price ranges and it will explore future partnerships in 5G technology.