India Mobile Revenue Soars 17% in Q2, Fuels Growth in Home and B2B Segments

CIOTechOutlook Team | Tuesday, 29 October 2024, 05:35 IST

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In the fiscal second quarter, India's mobile revenue, making up approximately 76% of the total revenue, increased by 17% to Rs 31,560.7 crore compared to the previous year. This growth was supported by higher realizations in the mobile sector and continued momentum in its domestic and B2B operations.

ARPU's sequential growth to Rs 233, from Rs 211 in the last quarter, boosted revenue alongside tariff hikes, postpaid user additions, and increased conversions from 2G to 4G/5G.

Bharti Airtel saw a 168% increase in consolidated net profit in the second fiscal quarter compared to the previous year, higher average revenue per user (ARPU) from tariff hikes, despite losing subscribers. Shashwat Sharma will take over as the new managing director and chief executive of India's second-largest telcom firm on January 1, 2026, replacing Gopal Vittal, who will assume the role of executive vice chairman.

Airtel's quarterly net profit of Rs 3,593.2 crore decreased by 13.6% compared to the previous quarter, falling short of analyst predictions of around Rs 4,311 crore, primarily due to a one-time exceptional loss of Rs 318.3 crore resulting from currency devaluation in Nigeria.

“Shashwat Sharma, currently chief operations officer, will be appointed MD and CEO of Bharti Airtel on January 1, 2026. In preparation for this role, he is being appointed CEO-designate,” Airtel said in a statement Tuesday. “As the CEO-designate, Shashwat will be responsible for the entire end-to-end consumer business. Gopal will be responsible for mentoring and grooming Shashwat to take over as MD and CEO of Bharti Airtel.”

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