Indian telecom operator Bharti Airtel Ltd said on Tuesday its fourth-quarter profit beat estimates and revenue jumped 22.3%, boosted by a recent tariff hike.
Its average revenue per user (ARPU) - a key performance indicator in the telecom industry - came in at Rs 178 for the quarter, up from Rs 145 from a year earlier. ARPU of rivals Reliance Jio and Vodafone Idea for the same period was Rs 167.6 and Rs 124, respectively.
Airtel, India's second-biggest carrier, said in November when it announced tariff hikes that mobile ARPU needed to be at Rs 200 and ultimately at Rs 300, for a financially healthy business model.
The company has been raising money to fund its digital ambitions, including developing home broadband, data centres, cloud adoption as it prepares to launch its next-generation 5G services in the country.
In January, it announced an investment of up to $1 billion from Alphabet Inc's Google.
Airtel said on Sunday it would set up its fourth digital technology hub in the country, as part of plans to expand its in-house digital engineering capabilities.
Its consolidated net profit came in at Rs 2,008 crore for the quarter, up from Rs 759 crore a year earlier. Analysts had expected a profit of Rs 1,978 crore, according to Refinitiv IBES data.
The company reported consolidated revenue from operations of Rs 31,500 crore ($4.06 billion) for the quarter ended March 31, compared with Rs 25,747 crore in the same period last year, according to a regulatory filing.