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Bharti Airtel stock sees muted reaction to reports of payments bank listing, tariff hike

market | Dec 29, 2022 10:54 AM IST

Bharti Airtel stock sees muted reaction to reports of payments bank listing, tariff hike

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Bharti Airtel is also considering raising tariffs across India by February.

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Bharti Airtel is planning to list its payments business, Airtel Payments Bank, newspaper reports cited top company officials. However, there was no timeline on the listing.
Airtel's payments bank has already turned profitable and is growing in healthy double digits, according to company spokespersons cited in the report.
The listing of the payments arm would help Bharti Airtel monetise its digital service offerings. A Financial Express report quoted another company official as saying that the only other digital business, after the payments, which can be monetized by the company is the data centres, but that would take years.
Notably, Airtel has several other digital businesses relating to advertising, cybersecurity, cloud for small and medium enterprises, and communication platforms as a service (CpaaS). But they cannot be monetised on the lines of the payments bank as they are intertwined with the mobility business, the Financial Express report said, quoting the official.
The Airtel Payments Bank was launched in January 2017 and has around 50 million users on its platform currently. In the previous financial years, Airtel Payments Bank reported a profit of Rs 9 crore on revenues of Rs 941 crore. Bharti Airtel owns 70 percent in the unit, with the balance held by Bharti Enterprises.
In other reports, the telecom major is also considering raising tariffs across India by February after witnessing lower-than-anticipated customer churn post raising the lowest pre-paid tariff by Rs 56 in Odisha and Haryana.
Bharti Airtel raised the lowest tariff from Rs 99 to Rs 155 for prepaid customers in the two circles last month. While the pilot is still ongoing, Mint quoted a company official who said that data from the pilot will be clear by February, post which they would take a call on implementing it across circles.
Shares of Bharti Airtel are trading 0.2 percent lower at Rs 802.15.
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