Airtel has said that the company’s board has approved its plan to raise Rs 7500 crore through bonds. The company wants to implement some of its plans early.
After losses for six consecutive quarters, Airtel has made a grand profit of Rs 854 crore during October-December for the first time. Merger with Bharti Infratel and Indus Towers and increase in revenue due to increasing data users has brought the company to profit. Bharti Airtel’s revenue grew 24 per cent to Rs 26,518 crore in the third quarter of the current financial year.
10 million users increased
In the December quarter, Airtel increased to 14 million users. The number of users has increased the most compared to the last four quarters. Due to this, ARPU also increased on average revenue. It was Rs 162 in July-September while it increased to Rs 166 in October-December. Airtel says that the company’s board has approved its plan to raise Rs 7500 crore through bonds.
Increase in the number of 4G service subscribers
A big reason for the company’s good performance is being attributed to the increase in its 4G customers. A sharp increase in 4G subscribers in Airtel proves that it has benefited from Jio’s Boycott during the Kisan agitation. In Punjab and Haryana, a large number of people left the connection of Jio and took Airtel’s 4G service. However, the revenue market share of Airtel is still less than Reliance Jio.
Airtel had a market share of 34.2 percent in the September quarter and Jio’s share of 41.3 percent. Airtel has received a large number of subscribers in recent times. This is the reason that its revenue has increased in the December quarter. Analysts say that Bharti Airtel has implemented its plans well in recent quarters. This is why their revenue and profit have increased.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.