Page 20 - Bharti Airtel

Airtel Payments Bank sees surge in number of customer applications: CEO

The company said, given the trend, the bank would add one million on a monthly basis

Expected gains in Q3FY24 for Airtel hinge on fare hike, steady growth

Mobile subscribers saw net additions of 3.3 million to 345.6 million. The average revenue per user (ARPU) rose to Rs 208, up nearly 3 per cent quarter-on-quarter

Real improvement in Arpu to come only with tariff repair: Airtel MD Vittal

Telecom operator Bharti Airtel on Tuesday said while there has been a clear rise in Average Revenue Per User (ARPU) on an 'organic basis', the "real improvement" in this metrics will come from "tariff repair". During the company's Q3 investor call, Bharti Airtel Managing Director Gopal Vittal asserted it is not a question of whether tariff repair will happen, but rather when it will happen. "The real improvement will come only if there is a tariff repair. As I have mentioned before it is not a question of if tariff repair will happen, it is a question of when it will happen," the Airtel top honcho said. There has been an improvement in ARPU in the absence of tariffs hikes too, he noted citing the organic levers. "We have seen improvement in ARPU in absence of tariffs hikes...yes, in some quarters it is higher, some quarters lower. But if you take slightly longer timeframe there is clearly a movement up in the ARPU on an organic basis, given the levers that I spoke about...post paid

Sensex surges 455 pts, Nifty tops 21,900; IT index jumps 3%, YES Bank 12%

Stock market highlights on February 6, 2024: The Nifty Auto, Metal, and Pharma added over 1 per cent each

Bharti Airtel Q3 results: Consolidated net profit rises 54% to Rs 2,442 cr

ARPU rises to Rs 208 from Rs 203 in Q2

Bharti Airtel Q3 results: Profit jumps 54% to Rs 2,442 cr; revenue up 5.8%

Airtel prepaid mobile customers are required to pay at least Rs 155 for about a month-long service as the company had raised rates by 56 per cent in January 2023

Bharti Airtel to allot 3.86 million equity shares to certain FCCB holders

Bharti Airtel on Friday said it will allot 38.6 lakh equity shares to certain FCCB holders at a conversion price of Rs 518 per equity share. This follows receipt of notice for conversion of FCCBs (Foreign Currency Convertible Bonds) of principal value of USD 27,795,000 from the FCCBs holders. Accordingly, it said, the paid-up equity share capital of the company has increased. The telco's committee of directors for fundraising approved the allotment of shares to these FCCB holders on Thursday, according to a regulatory filing. "...upon receipt of notices for conversion of FCCBs of principal value of USD 27,795,000 from certain FCCBs holder(s), the Special Committee of Directors for Fund Raising has, today, that is on February 01, 2024, approved the allotment of 3,864,800 fully paid-up equity shares of face value Rs 5 each at a conversion price of Rs 518 per equity share to such holder(s) of FCCBs," the filing said. FCCB is a debt instrument to raise funds from overseas market. Such

Stocks to Watch today: Axis, HDFC Bk, LTFH, Airtel, Lupin, REC, JSW Energy

Stocks to watch on Wednesday, January 24, 2024: Bajaj Auto, Canara Bank, DLF, Exide, Indian Oil, Tata Steel, Tech Mahindra and TVS Motor to announce Q3 results today.

Ram Mandir inauguration: Telcos enhance network connectivity in Ayodhya

DoT and other central, state, and municipal departments ensured speedy approvals in providing space for towers, movement of material, and manpower, thus enabling immediate execution, Vi said

Airtel loses 1.2 million users, Jio gains 1.84 million in October: Trai

Trai data suggests that Airtel's market share was flat at 32.85 per cent in October and Jio's share rose to 39.30 per cent

Airtel Africa names Sunil Taldar CEO, Olusegun Ogunsanya to retire in July

Ogunsanya will retire on July 1, 2024, after a 12-year-long stint in the company. He had run the Nigeria Operations of the Telecommunications and mobile money company for nine years before Airtel

Bharti Airtel Services set to acquire 97.1% stake in Beetel Teletech

Bharti Airtel Services, a wholly-owned subsidiary of Bharti Airtel, has entered into an agreement for the acquisition of 49.45 lakh shares or 97.1 per cent stake in Beetel Teletech, another Bharti Group company, according to a filing. Pegging the cost of acquisition at Rs 669 crore, the filing said this acquisition is a part of the company's strategy to enable indigenisation initiatives within its own ecosystem of telecom products in line with the Government's policy of Make In India' and add distribution and service capabilities (including system integration) largely for the enterprise business. "...as a part of group restructuring, Bharti Airtel Services Limited, a wholly-owned subsidiary company of Bharti Airtel Limited has entered into an agreement for acquisition of 49,45,239 equity shares representing 97.1 per cent stake in another Bharti Group company, Beetel Teletech Limited, which also has 49 per cent stake in Joint Venture having two manufacturing facilities which produce .

Airtel to seek reversal of Rs 24.9 lakh penalty order received under CGST

Bharti Airtel on Tuesday said it does not agree with an order it received under the Central Goods and Services Tax Act for levy of Rs 24.94 lakh penalty, and will take suitable action for rectification or reversal. The violation pertains to alleged irregular input tax credit claim from 2017-18 to 2021-22 and other related matters, Airtel said in a BSE filing. Submitting details of the orders received by the company under the Central Goods and Services Tax Act, Airtel said the order was received on December 24. The order entails a levy of a penalty of Rs 24,94,316, it said, adding, "the company does not agree with the order and will take appropriate action for rectification/reversal of the same." "The maximum financial impact is to the extent of the penalty levied," it said.

Telcos likely to show little interest in upcoming spectrum auction

The telcos already have ample spectrum with them. With little scope for 5G monetisation, telecom companies do not see the need to spend towards acquiring more spectrum

Airtel Business, IntelliSmart to connect 20 mn smart meters with IoT

Telecom operator Bharti Airtel has entered into a strategic partnership with IntelliSmart Infrastructure to connect up to 2 crore smart meters with internet of things technology, the company said on Thursday. The project is estimated to be executed over a period of next 10 years. "This marks Airtel's foray into smart metering applications such as head end system, along with Cloud and Analytics. This is the one of the largest deals in the smart metering space in the country and will significantly contribute towards Airtel's fast-growing IoT deployment across sectors," Airtel said in a statement. The company said its proprietary platform the "Airtel IoT Hub" will help the utility track and monitor these smart meters with advanced analytics while maintaining extremely high reliability augmented with telco grade security. "IoT is one of the fastest-growing business segments for Airtel Business and, with this deal, we are now strategically positioned to play a pivotal role in driving th

Reliance Jio gains 3.47 mn, Vi loses 0.74 mn users in September: Trai

Bharti Airtel, the second-largest player in the market, saw its subscriber count increase by 1.32 million users

Dialling in: Admin price rings louder than satellite spectrum auction bid

while the market for satellite broadband currently is small ($10-15 million), the potential is large as an estimated 30% of the country does not have reliable terrestrial broadband services

Telecom Bill 2023: GMPC players may get spectrum at administered price

As the government tables the Telecommunications Bill, 2023 in Lok Sabha, the move is seen as a big win for Sunil Mittal's OneWeb, which had been pushing for the same

Sensex, Nifty snap 7-day winning run, end marginally down; Paytm cracks 19%

Closing Bell on December 7, 2023: Broader indices, however, outperformed on Thursday - the BSE MidCap index advanced 0.7 per cent, while the SmallCap added 0.3 per cent.

Trai directs Jio, Airtel to clarify terms on unlimited 5G data offerings

Bharti Airtel and Reliance Jio have both clarified that unlimited does not equate to infinity as data usage is restricted by speed and network