Airtel reports 29% jump in net profit in Q4. IndiaTech seeks an amendment in the sunset clause, pushes for longer reign for startup founders after IPO. TikTok becomes the preferred choice of platform for advertisers. Uber and Lyft drivers plan strike ahead of Uber’s IPO. IndiGo is in talks with Airbus SE for another large plane order. Jet Airways informs foreign airlines that it would be unable to provide security services to them after May 10. Air India’s plan to induct Jet’s Boeing 777 planes hits roadblock. Global markets stabilize as Trump’s tariff threat settles. Turkey's troubles mount amid political uncertainty. Mastercard plans to invest about $1bn in India in next five years.
Airtel reports 29% jump in net profit in Q4.
Making Money is an Art: Bharti Airtel posted a 29% jump in net profit to INR107cr, primarily on back of gains from exceptional items.
The consolidated revenue also rose by 6% YoY to INR20,602cr vs INR19,394cr last year.
For the entire fiscal, however, Airtel's net profit tanked 62.7% to INR409.5cr compared to INR1,099cr in the previous fiscal.
A Continuing Struggle: Airtel is struggling to add subscribers in a saturated market after Jio managed to lure more than 300 million users over the past three years. The aggressive expansion of Jio with free calls and cheaper data, backed by the deep pockets of Asia’s richest man, was bad news for highly indebted incumbents engaged in a tariff war that had pushed call rates to less than a cent. A deep dive into how Airtel is battling Reliance Jio's onslaught here.