{"id":107292,"date":"2023-08-17T14:04:52","date_gmt":"2023-08-17T08:34:52","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=107292"},"modified":"2023-08-17T14:04:54","modified_gmt":"2023-08-17T08:34:54","slug":"airtel-payments-bank-q1-results-profit-grew-by-143-yoy","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/airtel-payments-bank-q1-results-profit-grew-by-143-yoy\/","title":{"rendered":"Airtel Payments Bank Q1 Results: Profit grew by 143% YoY"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-768678381\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Airtel Payments Bank offers online banking and payment services. The company seeks to provide every Indian with access to a fair, efficient, and reliable banking experience as India&#8217;s first payments bank.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-229195632\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Airtel Payments Bank on Thursday said its revenue witnessed a year-on-year growth of 41 per cent to Rs 400 crore in the first quarter ended June 30, 2023.<\/p><p>The unlisted entity of Bharti Group said that its profit grew by 143 per cent on a year-on-year basis without disclosing the actual number.<\/p><p>&#8220;For the first time, the Bank&#8217;s quarterly revenue grew to Rs 400 crore for the first quarter (Q1) of the financial year (FY) 2024, an increase of 41 per cent YoY. For the Q1&#8217;FY24, the Bank&#8217;s profits grew by 143 per cent on YoY,&#8221; the company said in a statement.<\/p><div class=\"trade-content_5\" id=\"trade-880558051\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The customer deposits at Airtel Payments grew to Rs 1,922 crore and it now has 5.54 crore monthly transacting users, an annualised gross merchandise value (GMV) of Rs 2,381,00 crore and revenue of over Rs 1,600 crore on an annual basis, the statement said.<\/p><p>&#8220;For the first time, our revenues have surged to INR 400 crore. Our brand&#8217;s reliability and cutting-edge product offerings, combined with an unparalleled distribution network and advanced technology, have positioned us favourably to continue accelerating our expansion,&#8221; Airtel Payments Bank MD and CEO Anubrata Biswas said.<\/p><p>The company said it processes over 7 billion annualised transactions across its platforms.<\/p><p>According to the statement, the payments bank has more than 3,000 corporate partners and a network of 500,000 banking points spread across the country.&nbsp;<\/p><div class=\"trade-after-content\" id=\"trade-1658804261\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Airtel Payments Bank offers online banking and payment services. The company seeks to provide every Indian with access to a fair, efficient, and reliable banking experience as India&#8217;s first payments bank. Airtel Payments Bank on Thursday said its revenue witnessed a year-on-year growth of 41 per cent to Rs 400 crore in the first quarter [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":19494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-107292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Airtel Payments Bank Q1 Results: Profit grew by 143% YoY - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Airtel Payments Bank offers online banking and payment services. 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