Bharti Hexacom Surges Ahead with Doubling Profits in Q1 2024

Telecom operator Bharti Hexacom, operating as Airtel, reported a significant profit increase to Rs 511.2 crore for Q1 2024, compared to Rs 253.2 crore a year earlier. Total revenues also grew by 14% year-over-year. The rise in Average Revenue Per User (ARPU) and customer additions contributed to the company's success.

Telecom operator Bharti Hexacom, which operates under the Airtel brand, has announced a remarkable surge in profits, more than doubling to Rs 511.2 crore for the first quarter ending June 30, 2024, from Rs 253.2 crore in the corresponding period last year.

The company also reported a 14 per cent increase in total revenues on a year-over-year basis, reaching Rs 1,910.6 crore compared to Rs 1,681.7 crore a year ago.

The growth was driven by a 12.9 per cent year-over-year rise in mobile revenues, attributed to improved realisation and sustained customer additions. The Average Revenue Per User (ARPU) for the quarter rose to Rs 205 from Rs 194 a year ago, propelled by a focus on quality acquisitions and a better customer mix.

In a statement, the company revealed that it had added 2.8 million smartphone customers over the past year, marking a 16.3 per cent year-over-year increase. Bharti Hexacom also rolled out 268 network towers and 665 mobile broadband base stations during the quarter to enhance its coverage and ensure seamless connectivity.