Telecom company Bharti Airtel reported a 3% decrease in consolidated net profit at Rs 830 crore for the quarter ending December 31, 2021. It posted a net profit of Rs 854 crore in the year-ago period.

Airtel’s consolidated revenue climbed to Rs 29,867 crore, a 12.6% rise from Rs 26,518 crore in the year-ago period. Recent tariff hikes and subscriber additions helped the company generate higher revenue.

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The company’s average revenue per user (ARPU) – a key performance indicator in the telecoms industry – was Rs 163 for the December quarter, up from Rs 146 in the corresponding quarter of the previous year.

Airtel’s customer base stood at 48.50 crore across 16 nations.

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“We have delivered another quarter of sustained performance across all our business segments,” said Airtel CEO Gopal Vittal.

Airtel’s India revenue grew 17.9%, year on year, on a comparable basis and 10% on a reported basis. EBITDA margin for the India business was 49.8%, a rise of 4.58 percentage points from the corresponding quarter a year ago. EBIT margin came in at 15.9%, a 3.13 percentage point rise.

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Airtel has a customer base of 35.6 crore in India and the capex incurred in the country came in at Rs 4,654 crore.

Mobile services revenues from India were up 19.1%, year on year, on a comparable basis due to an increase in ARPU. Business revenues increased by 13%, year on year, backed by strong demand for data portfolios and emerging businesses.

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Airtel’s 4G data customers increased by 18% to 19.55 crore. It added 2.99 crore 4G customers to its network last year.

Vittal said that the full impact of the revised mobile tariffs will be visible in the fourth quarter.

The Africa business continues to deliver strong results, with a steady increase in contribution to the overall portfolio. The enterprise is now generating healthy free cash flows, which has enabled it to prepay some of its spectrum liabilities to the government, thereby reducing its interest burden.

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Google’s recent investment is a strong validation of Airtel’s role in being a pioneer of India’s digital revolution. “Our emerging digital services portfolio across Airtel IQ, AdTech, digital marketplace, Nxtra and digital banking positions us well to build an Airtel of the future,” added Vittal.

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On Tuesday, ahead of the results, Airtel’s shares closed flat at Rs 706.95 on the BSE.