The consolidated net profit of telecom operator Bharti Airtel jumped over fivefold to Rs 1,607 crore for the first quarter ended June 30 as its revenue rose, boosted by subscriber additions. The company had posted a profit of Rs 283.5 crore in the year-ago period. The telco said its consolidated revenue from operations increased by about 22 per cent to Rs 32,805 crore during the reported quarter from Rs 26,854 crore a year ago. The company’s average revenue per user (ARPU) increased to Rs 183 in Q1FY23 against Rs 146 in Q1FY22. ARPU of rivals Reliance Jio and Vodafone Idea for the same period was Rs 175.7 and Rs 128, respectively.

The company said in November, when it announced tariff hikes, that mobile ARPU needed to be at Rs 200 and ultimately at Rs 300 for a financially healthy business model. Gopal Vittal, MD and CEO, said: “This has been another solid quarter. We continue to deliver strong and sustained growth at 4.5 per cent sequentially. EBITDA margins are now at 50.6 per cent. “Our enterprise and home business has strong momentum and has delivered a strong double-digit growth, improving the diversity of the overall portfolio. Airtel’s strategy of winning with quality customers continues to yield good results with an industry-beating ARPU at Rs 183. “As India gets ready to launch 5G, we are well positioned to raise the bar on innovation.