Airtel Payments Bank Q2 net profit rises 45% to Rs 11.2 crore

Airtel Payments Bank has posted a 45 per cent summation successful nett net to Rs 11.2 crore for the 2nd 4th ended September 2024, the institution said connected Wednesday. The institution had registered a nett net of astir Rs 7.72 crore a twelvemonth ago.

The slope said its quarterly gross grew 58 per cent to Rs 674 crore during the reported 4th connected a year-on-year basis.

"These results underscore our presumption arsenic a cardinal subordinate successful the integer banking sector, wherever we person been the 5th largest mobile slope successful India. The rising adoption of our integer solutions and information features has made america India's archetypal prime for a harmless 2nd account. This maturation validates the spot of the payments slope model," Airtel Payments Bank MD and CEO Anubrata Biswas said.

Airtel Payments Bank's monthly transacting users (MTU) roseate 76 per cent connected a year-on-year ground to 102 cardinal successful the 4th nether review.

The annualised gross merchandise worth (GMV) crossed USD 40 cardinal and lawsuit balances accrued by 43 per cent to implicit Rs 2,950 crore, a connection said.