Airtel Payments Bank Q1 net profit increased 41% to ₹7.2 crore, with 88 million Monthly Transacting Users and ₹2,943 crore customer deposits.

Airtel Payments Bank showed a 41% increase in Q1 net profit to ₹7.2 crore, bumping up its quarterly revenue by 52% YoY to ₹610 crore. The Monthly Transacting Users grew to 88 million, causing a 53% YoY rise in customer deposits to ₹2,943 crore. Their annualised Gross Merchandise Value stands at over ₹3.4 lakh crore. The growth is attributed to the rise in digital savings bank accounts and other digital services, as well as increased demand for NCMC-enabled cards.

August 08, 2024
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