Shares of Bharti Airtel were trading in the green and 4% higher on 6 February after the company reported a strong quarterly report for October-December.

The company reported a 54% year-on-year increase in its consolidated net profit to Rs 2,442.2 crore for the quarter under review from Rs 1,588 crore reported in the same quarter last year.

The revenue for the quarter stood at Rs 37,900 crore for the quarter, marking a 6% YoY growth from Rs 36,062 crore reported in the same quarter of the previous fiscal year.

Gopal Vittal, Managing Director of Bharti Airtel, said, “Revenue from the India business sustained its momentum and grew sequentially by 3 percent, while the consolidated revenue was impacted by the devaluation of the Nigerian Naira and Malawian Kwacha.”

Furthermore, the average revenue per user (ARPU) increased to Rs 208 for the quarter from Rs 193 recorded in the same quarter last year, which was aided by the consistent strategy of acquiring high-value customers and improved realisations.

During the quarter, the company reached a customer base of 48.3 million as it consistently grows a strong clientele base of 4G/5G customers.

The EBITDA (earnings before interest, tax, depreciation, and amortisation) margin expanded to 53.9% during the quarter from 52.7% reported in the base period.

At 11:10 am, the shares of Bharti Airtel were trading 3.16% higher at Rs 1,148.70 on NSE.