Airtel Payments Bank Q1 Profit Jumps 82% to Rs 19 Cr

New Delhi: Airtel Payments Bank on Monday reported an 82 per cent rise in net profit to Rs 19 crore for the first quarter ended in June, driven by good operating performance.

The bank had earned a profit of Rs 10.4 crore in the April-June quarter of the previous financial year.

The bank’s revenue increased to Rs 831 crore from Rs 777 crore in the corresponding quarter last financial year, Airtel Payments Bank said in a statement.

During the quarter, Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) rose by 21 per cent to Rs 108 crore from Rs 82 crore in the same period a year ago.

At the same time, customer balances grew by 17 per cent to Rs 4,389 crore from Rs 3,743 crore in the first quarter of last fiscal.

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