Bharti Airtel's subsidiary, Airtel Payments Bank has announced its Q3 FY25 results. The bank has reported a net profit of Rs 18.5 crore during the quarter, up by 70% YoY along with an EBITDA (earnings before interest, tax, depreciation and amortisation) growth of 66% YoY to Rs 87 crore. The company registered a quarterly record with revenues crossing Rs 700 crore, up by 49% YoY.
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In a release, Airtel Payments Bank confirmed that its monthly transacting users (MTU) crossed 100 million, up by 62% YoY. The annualised gross merchandise value (GMV) is close to Rs 4,000 billion, reflecting that users are increasingly using Airtel Payments Bank for transactions. Customer balances have increased to Rs 3,332 crore, a 42% growth YoY.
Airtel Payments Bank has issued over 1.7 million RuPay NCMC-enabled cards to date. The company said that its soundbox adoption amongst the merchants is rising. Rural India continues to be a growth area for Airtel Payments Bank as the company has seen a solid uptake of its solutions there. The bank is processing around 8 million transactions every year at the moment.
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Anubrata Biswas, MD and CEO of Airtel Payments Bank, said, "We are delighted to announce another quarter of impressive growth, reaffirming the strength of our banking model. As a fully integrated, technology-driven banking platform, we continue to meet the diverse financial needs of both urban and rural customers. Notably, we are now India’s third-largest mobile bank and the preferred choice for a secure second account."
