Indian billionaire Sunil Mittal earns Rs 13499163600 profit from this country, not India, UK; net worth reaches Rs...

Sunil Mittal, an Indian billionaire and founder of Bharti Airtel, has his business operations across the world. His telecom firm is India's second-largest, competing with Mukesh Ambani's Reliance Jio. Airtel operates in 18 countries across South Asia and Africa, as well as the Channel Islands. Now, telecom operator Airtel Africa, which is owned by Bharti Airtel, has posted multifold growth in profit after tax (PAT) to USD 156 million (Rs 1349 crore) in the June quarter. It was mainly on account of customer growth, lower capex, and forex gain. The company had posted a profit after tax of USD 31 million in the same period a year ago.

"Profit after tax of USD 156 million improved from USD 31 million in the prior period. The prior period was significantly impacted by derivative and foreign exchange losses, primarily in Nigeria, while the current period benefited from a USD 22 million gain largely arising from the Central African franc (CFA) appreciation during the quarter," the company said in a statement on Thursday.

Airtel Africa revenue

The revenue of Airtel Africa increased 22.4 per cent to USD 1,415 million during the reported quarter from USD 1,156 million a year ago. The company said capex of USD 121 million was lower compared to USD 147 million in the June 2024 quarter, driven largely by timing differences. Airtel Africa has enhanced capex guidance for the full year to be in the range of USD 725 million and USD 750 million, from USD 670 million it incurred in FY25.

Sunil Mittal's net worth

According to Forbes, Mittal has a real-time net worth of USD 14.2 billion. He is currently in the 180th spot on the world's billionaire list. His flagship firm, Bharti Airtel, currently has a market cap of Rs 11.61 lakh crore, as of July 25. The share price of the telecom firm closed at Rs 1,928 apiece on Friday.

(With inputs from PTI)

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