Business

Lockdown, WFH Effect: Bharti Airtel Posts Highest-Ever Quarterly Revenue

Lockdown, WFH Effect: Bharti Airtel Posts Highest-Ever Quarterly Revenue
Telecom major Bharti Airtel on Tuesday reported a revenue of Rs 25,785 crore in the July-September period, its highest ever in a quarter, boosted by higher tariffs and a rise in data usage from a coronavirus-fuelled shift to remote working. In a regulatory filing after market hours, the private sector company said its net loss narrowed to Rs 763.2 crore in the second quarter of current financial year, compared to Rs 23,044.9 crore in the corresponding quarter a year ago.

Here are 10 things to know:

  1. Bharti Airtel said its ARPU or average revenue per user - a measure of profitability - improved to Rs 162 per month in the July-September period, from Rs 157 in the previous quarter and Rs 128 in the three-month period ended September 30, 2019.

  2. The jump in revenue for Bharti Airtel comes at a time when the country's telecom sector is grappling with low tariffs due to a price war that ensued after billionaire Mukesh Ambani's Reliance Jio entered the space.

  3. Last year, telecom operators hiked tariffs as they were ordered to pay dues of Rs 92,000 crore to the government's Department of Telecommunications.

  4. The company's 4G data customers rose by 1.44 crore to 15.27 crore in the quarter ended September 30.

  5. Shares in Bharti Airtel ended 0.24 per cent lower at Rs 433 apiece on the BSE ahead of the earnings announcement by the company, underperforming the benchmark S&P BSE Sensex index which rose 0.94 per cent.