New Delhi: Indian telecom operator Bharti Airtel on Tuesday clocked over twofold rise in its consolidated net profit to Rs 2,008 crore for the quarter ended March 31, the PTI reported.
The telco reported a net profit of Rs 759 crore in the year-ago period.
Revenue from operations of Bharti Airtel rose 22.3 per cent to Rs 31,500 crore during the fourth quarter of FY21-22, from Rs 25,747 crore in the corresponding period of the previous year.
For the full year FY22, the Sunil Mittal-led company logged a net profit of Rs 4,255 crore against a loss of Rs 15,084 crore in the previous financial year (FY21).
Airtel logged a revenue of Rs 116,547 crore for FY22, up from Rs 100,616 crore recorded in the previous financial year. This translated into a top line growth of about 16 per cent for full year.
The firm added 2.15 crore 4G subscribers to its network over last year, a rise by 12 per cent YoY.
Gopal Vittal, CEO, India and South Asia, Bharti Airtel, exuded optimism about the opportunities in the coming years, and said the company is "well poised" for three reasons.
"First, our ability to execute consistently to a simple strategy of winning with quality customers and delivering the best experience to them. Second, our future proofed business model with massive investments in both infrastructure and digital capabilities," he said.
He also underlined the company's financial prudence backed by its strong governance focus, as a strong point.
Airtel, India's second-biggest carrier, said in November when it announced tariff hikes that mobile ARPU needed to be at Rs 200 and ultimately at Rs 300, for a financially healthy business model.
The company has been raising money to fund its digital ambitions, including developing home broadband, data centres, cloud adoption as it prepares to launch its next-generation 5G services in the country.