Bharti Airtel / This giant's name is ruling the telecom industry, Ambani's company lags behind

In the second quarter, Airtel earned a profit of Rs 3,593 crore, up 168%, while Jio's profit grew by only 3%. Airtel's revenue also reached Rs 41,473 crore. Gopal Vittal will become vice chairman from 2026, and the company's earnings have also increased in Africa.

Vikrant Shekhawat : Oct 29, 2024, 06:00 AM

Bharti Airtel: Even though Reliance Jio is India's largest telecom company by user base, Airtel has overtaken Jio in terms of profit in the second quarter of this year. Sunil Bharti Mittal's telecom company, Bharti Airtel, recorded a huge jump of 168% in the July-September period. During this period, Airtel's net profit reached Rs 3,593 crore, while in the same quarter last year this profit was Rs 1,341 crore. On the other hand, Jio saw a marginal increase of only 3%.

Great growth in Airtel's income and profit

Airtel's income grew 12% to Rs 41,473 crore this quarter. The company attributed this growth to strong performance in India and Africa. Specifically, Airtel's quarterly revenue in India grew 8.7%, while Africa saw constant currency growth of 7.7%. It is clear from this that Airtel has a strong hold in domestic and international markets alike.

Leadership change: Gopal Vittal gets new role

There have also been some significant changes in the management of the company. Gopal Vittal, who has been the managing director and CEO of the company for the last 12 years, will take over as executive vice chairman from January 1, 2026. He has been replaced by Shashvat Sharma as the designated CEO, who will become the future managing director and CEO of the company.

Profitability also expands in the African market

Expressing satisfaction over the quarterly performance of the company, Gopal Vittal said that Airtel has recorded strong revenue growth in both India and Africa. The average revenue per user (ARPU) in the Indian market has reached Rs 233, the highest in the industry. This is the result of the growing number of Airtel customers and improvement in tariff rates.

Airtel's stock stability in the stock market

Although investors expect Airtel's quarterly results to boost the company's stock, Airtel's stock saw a slight decline on the Bombay Stock Exchange on Monday, and it closed down 0.05% at Rs 1663.65. Experts believe that the results on Tuesday may have a positive impact on Airtel's stock.

Airtel's expansion and future prospects

Airtel's spectacular growth and stability makes it clear that the company has further strengthened its position in the telecom industry. Airtel's profit growth compared to Jio shows that the company has constantly improved its services and products, which has brought stability to the customer base and revenue.