Sequentially, profit was 13.6 per cent lower than the ₹4,159 crore in the preceding quarter. The earnings figure fell short of the average ₹4,398 crore profit estimated by analysts surveyed by Bloomberg.
The company attributed the rise in profit to tariff repair, strong smartphone data customer additions, and underlying mix improvement.
Consolidated revenue from operations came in at ₹41,473 crore in Q2, higher by 1 per cent from ₹37,043 crore in Q2FY24. Other income in the quarter under review stood at ₹254 crore.
The company's average revenue per user (Arpu), a key performance metric for telecom firms, rose 14.7 per cent Y-o-Y to ₹233, up from the ₹203 in Q2FY24. As a result of the tariff hike, it shot up by 10.6 per cent sequentially, up from ₹211 in Q1. Airtel's Arpu is the highest in the industry, beating Jio's 191.5 and Vodafone Idea's ₹146 (as last reported by both companies).
This story is from the October 29, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 29, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
India may become global leader in 5G FWA mkt by 2027
India is expected to become the world's largest 5G fixed wireless access (FWA) market by 2027 with over 30 million subscribers and overtake the US, the current global leader with 15 million subscribers, according to Counterpoint Research.
Crypto or not: Industry to focus on user protection, licensing regime
A consultation paper on the crypto sector is expected to suggest clarity on regulations after WazirX breach, says CoinSwitch co-founder
Pant, Iyers knock it out of the park
IPL Mega Auction: Star wicket-keeper most expensive player at ₹27 cr; Shreyas, Venkatesh bag hefty pay cheques
Eastern states are country's growth engine, says Modi
Prime Minister Narendra Modi asserted on Sunday that his government considers India's eastern region as the country's growth engine, while the area was considered backward earlier.
The other side of financialisation
There's been a dramatic rise in loans against gold in the past one year, but growth in unsecured loans is slowing. Bank loans to the NBFC sector have also dipped
Demand for super top-up health insurance plans rises after Covid
Demand for super top-up plans in health insurance has increased significantly post the Covid-19 pandemic, owing to a rise in medical costs and increased insurance awareness in the country, industry insiders have said.
Countdown to Feb 1 begins
FY26 Budget will come only six months after the last one, but has all the signs of becoming a hallmark document
Greening AI for sustainable computing
Technologies are providing solutions to many business and social problems. However, the solution itself is becoming a problem for climate action.
Agentic AI: The next frontier
A new iteration of AI is now taking the world by surprise. Agentic AI can take its own decisions. ARYAMAN GUPTA & SHIVANI SHINDE report
Visit developer's past projects to evaluate service standards
Renting temporarily can be useful to assess suitability before committing to purchase
