Bharti Airtel Ltd, is India’s top mobile carrier in terms of users has announced a 10 percent rise in quarterly net profit which is more than what the company had expected. With a rapid increase in the number of smartphone users in India which is said to cross USA as the second largest smartphone user base in near future the requirement of faster internet is also increasing.
Gopal Vittal, chief executive of Airtel’s India & South Asia unit, said, “With the commercial launch of high speed 4G services across 334 towns and roll-out of 3G services… we are now best positioned in the industry to leverage the fast growing data market,”.
The launch and spread of 4G services by Airtel has also helped the company in gaining a lot of user base. With Reliance Jio coming up with 4G services and Airtel releasing the service ahead of it, has surely helped to cash in on the early competition less market. Reliance which had earlier entered into the Mobile network market and revolutionised the pricing and lead to the drastic falling call rate. The same can be expected with the launch of Reliance Jio looking forward to it Airtel has announced that it would decrease its pricing of Airtel 4G services to the existing 3G costs.
The net profit of Bharti Airtel for the quarter ended September 30 rose to Rs. 1,523 approximately $234.4 million from 1,383 crores last year. The average profit expected by Thomson Reuters data was around Rs. 1,150 crores. Mobile Data revenue grew by 60 percent during the quarter and total revenue rose by 4% to Rs. 23,836 crores for the second quarter compared to last year.
Source: gadgets.ndtv.com
