Airtel Q2 net profit jumps 89%

NEW DELHI: India’s second largest telecom operator Bharti Airtel on Monday posted an 89 per cent year-on-year rise in consolidated net profit for second quarter ended September 2022 to Rs 2,145 crore, amid improved average realisation per subscriber.The total revenue rose 22 per cent year on year to Rs 34,527 crore during the just-ended quarter, according to a statement.Airtel CEO Gopal Vittal said the company is now rolling out 5G and exuded confidence that Airtel 5G Plus will deliver the best experience in India.”At the same time we remain concerned about the low ROCE (Return on Capital Employed) that our business delivers due to pricing that is the lowest in the world. Given the large investments required to drive digital adoption in India, we believe there is a need for tariff correction,” Vittal said.Average Revenue Per User (ARPU) for the quarter stood at Rs 190 as compared to Rs 153 in Q2 FY22 on the back of the ”continued focus on quality customers, feature phone to smartphone upgradation and data monetisation”, the Airtel statement said.