Bharti Airtel, a leading telecommunications company, has reported a significant decline in its consolidated profit for the fourth quarter of the fiscal year. The profit dropped by 31% to Rs 2,072 crore, primarily attributed to the devaluation of the Nigerian Naira. Despite this setback, the company witnessed a 4% increase in revenue, reaching Rs 37,599 crore during the same period.
Impact of Currency Devaluation
The depreciation of the Nigerian Naira had a substantial impact on Bharti Airtel’s financial performance in Q4. The company incurred a forex loss of Rs 2,544 crore due to currency fluctuations, affecting its bottom line. This underscores the challenges posed by currency volatility in the global telecommunications market.
Consolidated Revenue Growth
Amidst the profit decline, Bharti Airtel managed to achieve a 4% growth in consolidated revenue. Despite the economic uncertainties and market challenges, the company’s revenue reached Rs 37,599 crore, showcasing resilience and stability in its operations.
Smartphone Customer Acquisition
During the fourth quarter, Bharti Airtel successfully added 7.8 million smartphone customers to its network. This demonstrates the company’s ongoing efforts to expand its customer base and strengthen its market position in the highly competitive telecommunications industry.
Industry-Leading ARPU
Bharti Airtel’s Average Revenue Per User (ARPU) stood at Rs 209, surpassing industry standards and reflecting strong monetization capabilities. This metric is indicative of the company’s ability to generate revenue from its subscriber base and maximize the value of its services.
Managing Director’s Perspective
Gopal Vittal, Managing Director of Bharti Airtel, acknowledged the challenges posed by currency devaluation but remained optimistic about the company’s performance. He highlighted the achievement of an industry-leading ARPU and emphasized the importance of continued innovation and customer-centric strategies.
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