Bharti Airtel recorded a consistent performance across its portfolio in fiscal Q3 2023 (the period to 31 December 2022), with double-digit gains in its domestic, Africa, mobile and enterprise businesses.

Net profit rose 91 per cent year-on-year to INR15.9 billion ($192.2 million), aided by an exceptional gain of INR5.1 billion and revenue grew 19.9 per cent to INR358 billion.

Mobile service revenue in India rose 21 per cent to INR193.5 billion, with ARPU up 19 per cent to INR193.

The company added 4.4 million mobile subscribers for a total of 332.2 million.

Its LTE user base increased 10.8 per cent to 216.7 million, accounting for 65 per cent of its total.

Average data usage per customer increased 11 per cent to 20.8GB.

Capex increased 120 per cent to INR63.8 billion, with the operator launching 5G service in more than 20 cities at end-2022. In its earnings statement, MD Gopal Vittal said its 5G rollout is on track to cover all towns and key rural areas by March 2024.

Enterprise revenue increased 16 per cent to INR47.8 billion; home service sales 30 per cent to INR10.3 billion; and TV services 30 per cent to INR7.4 billion.

Its operation in Africa posted 18 per cent revenue growth to $1.4 billion. Mobile subscribers grew 10.1 per cent to 138.5 million and ARPU increased 5.8 per cent to $3.10.

Average data consumption per month was up 32.2 per cent to 4.7GB.

Revenue from Mobile Money grew 30.2 per cent to $189 million, with active user numbers increasing 22.2 per cent to 31.4 million.