Bharti Airtel Third-Quarter Net Profit Rose on Strong India Mobile Services — Update

By Kosaku Narioka

Bharti Airtel's third-quarter net profit rose, driven by higher earnings from its mobile services in India.

The Indian telecom company said Monday that net profit increased 54% from a year earlier to 24.42 billion rupees ($294.2 million) for the three months ended Dec. 31. The result fell short of the INR26.34 billion estimate in a poll of analysts by FactSet.

Quarterly profit from its mobile services in India climbed 19% to INR47.945 billion as its customer base grew 4.0% to 345.6 million and average revenue per user increased 7.5% to INR208 a month.

Meanwhile, profit from its mobile services in Africa dropped 7.3% to INR34.14 billion.

Revenue for the period rose 5.9% to INR378.995 billion.

The company's earnings before interest and taxes margin was 26.0%, compared with 25.9% a year earlier.

Its capital expenditure declined 0.4% to INR92.74 billion in the third quarter.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

February 05, 2024 06:15 ET (11:15 GMT)

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