Industry

Bharti Airtel Q4 net profit zooms to ₹2,008 crore

The Bharti Airtel office building in Gurugram. File

The Bharti Airtel office building in Gurugram. File | Photo Credit: REUTERS

India's second largest telecom operator Bharti Airtel on Tuesday posted over two-fold jump in its consolidated net profit to ₹2,008 crore for the March quarter.

The net profit stood at ₹759 crore in the year-ago period.

Airtel's revenue from operations rose 22.3% to ₹31,500 crore during the fourth quarter of FY2021-22, from ₹25,747 crore in the corresponding period of the previous year.

For the full year FY22, the Sunil Mittal-led telco logged a net profit of ₹4,255 crore against a loss of ₹15,084 crore in the previous fiscal (FY21).

Bharti Airtel posted a revenue of ₹116,547 crore for FY22, up from ₹100,616 crore recorded in the previous financial year. This translated into a topline growth of about 16% for full year.

Gopal Vittal, CEO, India and South Asia, Bharti Airtel, exuded optimism about the opportunities in the coming years, and said the company is "well poised" for three reasons.

"First, our ability to execute consistently to a simple strategy of winning with quality customers and delivering the best experience to them. Second, our future proofed business model with massive investments in both infrastructure and digital capabilities," he said.

He also underlined the company's financial prudence backed by its strong governance focus, as a strong point.


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Printable version | Jun 24, 2022 1:54:03 am | https://www.thehindu.com/business/Industry/bharti-airtel-q4-net-profit-zooms-to-2008-crore/article65422745.ece