Bharti Airtel witnessed exceptional growth in the March quarter as the average ARPU of the telcos mobile business showed an increase of 12%. Not only this, but the stock of Bharti Airtel was also trading on an all-time high stock price of Rs 603 per piece. In an interaction with ET Telecom, Chief Executive of Bharti Airtel, Gopal Vittal has stated that ARPU of the company will increase in the short-term. Also, Vittal has said that Trai should accelerate the process of fixing floor price to aid the telecom industry and keep the competition alive.
Bharti Airtel Might Have ARPU of Rs 200 in Short-term
As stated by Gopal Vittal, Bharti Airtel achieved the high ARPU growth because of the tariff hike which the telco introduced back in December 2019. Not only this, but Bharti Airtel also offered attractive postpaid plans which intrigued the users to be a part of Airtel and enjoy seamless telecom services. However, Vittal has also stated that ARPU of Airtel, which is currently Rs 154, will further increase in short-term. He is expecting that Airtel will have Rs 200 ARPU, which might grow to Rs 300.
Bharti Airtel is Fifth Precious Firm by Market Capitalisation
The intraday growth of Airtel stock by nearly 12% has increased the credibility of the firm. As reported by ET Telecom, the target price has been lifted by almost 76%, and Bharti Airtel will benefit from the sector rotation. Not only this, but Bharti Airtel’s March quarter earnings have also closed the gap with Reliance Jio on revenue trends.
Trai Must Set Up Floor Price Soon: Airtel CEO
Bharti Airtel CEO Gopal Vittal marked that tariffs in March quarter remained low. Since Airtel has shared all the data regarding floor price, Vittal addressed Trai and said that the regulatory body must come up with a floor price for data services to ensure that telecom industry attracts future investments and get back in the same position. Since all the telecom operators are already facing massive financial burden due to AGR crisis, telcos have asked Trai to set the floor price soon to help the telcos in challenging times and keep the competition alive in the industry.
Shrijan loves the process of creating content in various verticals, whether it be words, sounds or videos. He's also inclined towards digital marketing and tech industry developments. The art of creation always intrigues his interest.