Airtel billboard. For representative purposes.
Credit: Reuters Photo
New Delhi: Telecom operator Bharti Airtel on Tuesday posted a 31 per cent drop in consolidated profit to Rs 2,072 crore in the March quarter.
The company had registered a profit of Rs 3,005.6 crore in the year-ago period.
The consolidated revenue of operations increased 4.4 per cent to Rs 37,599.1 crore during the quarter under review from Rs 36,009 crore a year earlier.
"Consolidated performance was impacted primarily by the devaluation of the Nigerian Naira. We added 7.8 million smartphone customers and delivered an industry leading ARPU of Rs 209," Bharti Airtel Managing Director Gopal Vittal said.
For the year ended March 31, 2024, Bharti Airtel's profit dropped 10.5 per cent to Rs 7,467 crore from Rs 8,346 crore in FY23.
The annual revenue from operations of the company increased 7.7 per cent to Rs 1,49,982.4 crore during the reported fiscal from Rs 1,39,144.8 crore in 2022-23.
For FY24, the Airtel board has recommended a final dividend of Rs 8 per fully paid-up equity share of face value of Rs 5 each and Rs 2 per partly paid-up equity share of face value of Rs 5 each.