Airtel Payments Bank, a subsidiary of Bharti Airtel, has reported its quarterly revenues at Rs 674 crore in Q2 FY25. This is 58% up YoY and 10% QoQ. The bank posted a net profit of Rs 11.2 crore, up 45% YoY. The EBITDA (earnings before interest tax depreciation and amortisation) witnessed an increase of 87% YoY to Rs 76.1 crore in Q2 FY25.
Read More - Bharti Airtel Could Boost Free Cash Flow in Next Two Years: Report
During the quarter, the customer balances crossed Rs 2,950 crore and the monthly transacting user (MTU) count grew to 102 million, a milestone for the company. The annualised gross merchandise value (GMV) crossed USD 40 billion dollars reflecting the growing adoption of the Bank’s digital savings accounts and other products.
"These results underscore our position as a key player within the digital banking sector. The rapid adoption of our digital solutions and security features has made us India’s first choice for a safe second account. 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," said Anubrata Biswas, MD and CEO of Airtel Payments Bank.
Read More - Bharti Airtel Plan that Offers 730GB of Data, Unlimited 5G and OTT Benefits
Airtel said that the growth in its monthly transacting users (MTU) is a sign that customers are increasingly choosing its digital safe account for daily transactions. Airtel Payments Bank has a goal of helping the underbanked citizens in the country. The company not only offers services in urban India but also in the rural parts. In a release, Airtel Payments Bank said that it is the largest micro-cash player in the country and is currently digitising Rs 8,000 crore in cash transactions each month through partnerships with over 4,000 corporate clients. Airtel Payments Bank is one of the select companies in its category that is turning in a profit for the investors.
