Bharti Airtel, one of India’s largest telecom players, has reported a significant 168% increase in its consolidated net profit, reaching ₹3,593 crore for the quarter ending September 2024. This jump in earnings comes alongside a series of strategic leadership changes, with CEO Gopal Vittal set to assume the role of Executive Vice Chairman starting January 2026.
Airtel’s quarterly revenue grew by 12% to ₹41,473 crore, bolstered by India and Africa’s growth momentum. Digital TV revenues rose by 1%, totaling ₹759 crore, with a customer base expanding to 15.8 million. Average Revenue Per User (ARPU) increased to ₹233 from ₹203, driven by stronger smartphone data user additions and targeted tariff corrections.
Gopal Vittal, the CEO for over a decade, will transition to the role of Executive Vice Chairman. Shashwat Sharma, currently the Chief Operating Officer, will take over as Managing Director and CEO in 2026, as part of Airtel’s planned succession. Sharma will oversee Airtel’s end-to-end consumer business, signaling a new era of growth for the company.
Airtel recently formed a strategic alliance with Apple, offering exclusive Apple TV+ and Apple Music access to Airtel customers in India. This partnership highlights Airtel’s continued focus on digital expansion to provide customers with premium digital experiences and differentiated services.
Excluding exceptional items, Airtel’s consolidated net income rose 32.2% to ₹3,911 crore. However, due to forex-related losses, the net income increased by 168% after exceptional items. With mobile data consumption up 22.6%, Airtel’s data usage per customer averaged 23.9 GB per month, illustrating sustained demand for mobile internet services in India.
According to Sunil Mittal, Chairman of Bharti Airtel, the company remains dedicated to structured succession planning, strategic growth, and delivering unmatched digital services to consumers. As Airtel looks to enhance its market position, the new leadership will be instrumental in driving innovation and growth.
Credit: This article is based on information from Economic Times, Financial Express, and Mint.
Key Highlights:
- Bharti Airtel’s net profit surged 168% YoY in Q2 FY24, reaching ₹3,593 crore.
- CEO Gopal Vittal to transition to Executive Vice Chairman by 2026, with Shashwat Sharma as incoming MD and CEO.
- Airtel’s ARPU rose to ₹233, boosted by mobile data demand and strategic tariff adjustments.
- Airtel’s new partnership with Apple aims to enhance its digital offerings for Indian consumers.