By Giulia Petroni


Bharti Airtel Ltd. said Monday that net profit jumped in the first quarter of fiscal 2023, with results supported by a strong performance delivery across the portfolio.

The Indian telecom company said that net profit for the quarter ended June 30 was 16.07 billion Indian rupees ($202.1 million) from INR2.84 billion a year earlier. That missed the estimate of INR28.16 billion taken from a poll of analysts by FactSet.

First-quarter revenue increased 22.2% on year to INR328.05 billion from INR268.54 billion a year earlier, Bharti Airtel said.

"This has been another solid quarter. We continue to deliver strong and sustained growth at 4.5% sequentially. Ebitda margins are now at 50.6%," said Chief Executive Gopal Vittal. "Our enterprise and homes business has strong momentum and delivered strong double digit growth, improving the diversity of the overall portfolio."


Write to Giulia Petroni at giulia.petroni@wsj.com


(END) Dow Jones Newswires

08-08-22 0737ET