LIC reports 3.51% growth in profit after tax for H1 FY 2024
The Board of Directors of Life Insurance Corporation of India (LIC) has approved and adopted the standalone and consolidated financial results for the six months ending 30 September.
Bharti Airtel on Monday reported net profit (after exceptional items) at Rs 4,160 crore, up by 158 per cent (year-on-year), in the April-June quarter, and revenue at Rs 38,506 crore which is up 2.8 per cent YoY.
Its India business saw quarterly revenues of Rs 29,046 crore — up 10.1 per cent backed by strong and consistent performance across the portfolio, said the company.
The telecoms service major added 0.8 million subscribers in Q1 2025, thereby reaching a customer base of 24 million.
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The market share in the smartphone segment saw sustained improvement with an addition of 29.7 million, an increase of 12.9 per cent YoY.
The revenue of mobile services India vertical went up 10.5 per cent, led by strong 4G and 5G customer additions, customer mix improvement and an increase in average revenue per user (ARPU). ARPU for the quarter stood at Rs 211 as compared to Rs 200 in Q1 FY24, driven by a sustained focus on acquiring quality customers and delivering greater value to them.
“We continue to believe that industry needs over Rs 300 ARPU at the minimum for financial stability,” said Gopal Vittal, MD, Bharti Airtel.
Vittal said the quarter was yet another steady one with India revenue growing at 1.9 per cent sequentially and sustained EBITDA margins expansion to 53.7 per cent.
Wi-Fi services (FTTH and FWA) are now available in over 1,300 cities. In the recently concluded spectrum auction, Airtel successfully renewed the spectrum that was expiring in six circles and further bolstered its sub-giga hertz and mid-band holding in key circles by investing Rs 6,857 crore. The company rolled out an additional 6,300 towers and 15,5000 mobile broadband stations in the quarter to provide seamless connectivity and superior network experience.
Revenue from Digital TV remained stable with a 16.3 million customer base at the end of the quarter, said the company.
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