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In Q2 of FY25, Airtel Payments Bank, a division of Bharti Airtel, recorded quarterly revenues of Rs 674 crore. This is a 10% QoQ and 58% YoY increase. With a net profit of Rs 11.2 crore, the bank reported a 45% YoY increase. In Q2 of FY25, EBITDA (earnings before interest tax depreciation and amortisation) increased 87% year over year to Rs 76.1 crore.
The monthly transacting user (MTU) count increased to 102 million during the quarter, marking a significant milestone for the business, and client balances surpassed Rs 2,950 crore. The Bank's digital savings accounts and other products are becoming more and more popular, as evidenced by the annualised gross merchandise value (GMV) surpassing USD 40 billion.
"These outcomes highlight our standing as a major force in the online banking industry. We are now India's top alternative for a secure second account due to the quick uptake of our digital solutions and security features. According to Anubrata Biswas, MD and CEO of Airtel Payments Bank, "this growth validates the strength of the payments bank model, demonstrating its crucial role in driving financial inclusion and meeting the evolving digital needs of India's population."
According to Airtel, the rise in monthly transacting users (MTU) indicates that more and more consumers are using its digital secure account for everyday transactions. Assisting the nation's underbanked populace is the aim of Airtel Payments Bank. The business provides services in both rural and urban areas of India. According to a statement, Airtel Payments Bank is the biggest micro-cash provider in the nation and, through alliances with more than 4,000 corporate customers, is presently digitising Rs 8,000 crore in cash transactions every month. One of the few businesses in its sector that is making money for investors is Airtel Payments Bank.
Highlights of Bharti Airtel's Q2 FY25 Results
On similar lines, Bharti Airtel recently released the Q2 FY25. Their quarterly revenues of Rs 41,473 crore represented a 12% YoY and a 7.7% QoQ increase. India's business contributed to this with a quarterly revenue of Rs 31,561 crore, which was up 16.9% year over year. Due to the telco's July pricing hike, mobile services revenue increased 18.5% year over year during the quarter. That also had an impact on the ARPU, which increased from Rs 211 to Rs 233 in the prior quarter.
Airtel's quarterly net income, adjusted for unusual items, was Rs 3,593 crore. 75% of its total mobile business, or 26.2 million YoY and 4.2 million QoQ, increased in smartphone data subscribers, according to the telco. Airtel's postpaid base now stands at 24.7 million after adding 0.8 million new subscribers during the quarter. The company's monthly mobile data use increased by 22.6% year over year to 23.9GB.