Bharti Airtel stock hits 52-week high as Q2 profit surges 89% to ₹6,792 cr
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The company's focus on premiumisation and market expansion has yielded positive results. | Credits: Fortune India
Bharti Airtel stock hits 52-week high as Q2 profit surges 89% to ₹6,792 cr
Bharti Airtel's stock soared to a 52-week high following an impressive 89% surge in Q2 net profit to ₹6,792 crore, driven by robust subscriber growth and a 25.7% revenue increase. The stock opened at ₹2,100 and peaked at ₹2,135.75, reflecting strong market confidence. The company's India business and Africa operations contributed significantly to this growth.
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Bharti Airtel's stock reached a 52-week high as Q2 net profit surged 89% to ₹6,792 crore, with a 25.7% revenue increase. The stock opened at ₹2,100 and peaked at ₹2,135.75, reflecting strong market confidence
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The company's focus on premiumisation and market expansion has yielded positive results. | Credits: Fortune India
Bharti Airtel's share hit a 52-week high in the early morning trade on Tuesday after the telecom giant recorded a 89% surge in Q2 (July-September quarter) net profit at ₹6,792 crore, while the company's revenue grew 25.7% on strong subscriber base growth.
The scrip opened gap up at ₹2,100 on the BSE compared to the previous session's close of ₹2,073.75 and soon hit a one-year high at ₹2,135.75, up 2.22% from the previous day's close. At the time of filing the story (10.20 AM), the stock was trading 1.97% up at ₹2,114.70, commanding an m-cap of over ₹12 lakh crore.
Bharti Airtel stock has performed well in the recent past. The scrip has surged 0.81% in the past week, while its one-month and six-month gains are 11.12% and 13.33%, respectively. Showing strong market confidence, the scrip has surged 32.58% in the year-to-date period, while its one-year gains come in at 32.95%.
Bharti Airtel's revenue for the quarter under review grew 25.7% to ₹52,145 crore. Its India business posted quarterly revenues of ₹38,690 crore, up 22.6% from the year-ago period and 2.9% sequentially, driven by continued premiumisation in the mobile segment, sustained momentum in the homes segment and improved Airtel business performance.
We delivered another quarter of solid performance, achieving a consolidated revenue of ₹52,145 crore, growing 5.4% sequentially and underscoring the strength of our portfolio.
Gopal Vittal, vice chairman and MD, Bharti Airtel
“We delivered another quarter of solid performance, achieving a consolidated revenue of ₹52,145 crore, growing 5.4% sequentially and underscoring the strength of our portfolio. Our India revenue, including Passive Infrastructure Services, increased by 2.9%. Africa delivered another quarter of standout performance, with constant-currency revenue growth of 7.1%. The Postpaid segment recorded one of the highest quarterly net additions of about one million,” Gopal Vittal, vice chairman and MD, Bharti Airtel, stated.
The mobile business in India reported a 13.2% year-on-year revenue increase, led by higher average revenue per user (ARPU) and continued growth in smartphone data customer acquisition. The ARPU for the quarter was ₹256, up from ₹233 in the previous quarter.
The net customer additions reached a record high of 9,51,000 in the second quarter, driven by market expansion and deeper coverage of its Wi-Fi services. Airtel’s overall customer base stands at about 624 million across 15 countries. The Indian customer base, on the other hand, stands at approximately 450 million. The capex for the quarter is ₹11,362 crore, out of which the capex for the quarter in the India business is at ₹9,643 crore.