Airtel Payments Bank (APB) has reported a 70 percent increase in net profit for the third quarter ended December 31, 2024 at ₹ 18.5 crore.
For the quarter under review, revenue crossed ₹ 700 crore, up by 49 percent year-on-year. EBITDA grew 66 percent YoY in Q3 to ₹ 87 crore.
The latest bottomline is substantially higher than the previous two quarters. In the June 2024 quarter, APB had recorded net profit of ₹ 7.2 crore. The bottomline in September 2024 quarter increased to ₹ 11.2 crore.
Anubrata Biswas, MD & CEO of Airtel Payments Bank, said, “We are delighted to announce another quarter of impressive growth, reaffirming the strength of our banking model.
As a fully integrated, technology-driven banking platform, we continue to meet the diverse financial needs of both urban and rural customers. Notably, we are now India’s third-largest mobile bank and the preferred choice for a secure second account.”
During the quarter, the Bank’s Monthly Transacting Users (MTU) exceeded well above 100 million, up by 62 percent YoY. The annualised gross merchandise value (GMV) close to ₹ 4 lakh crore reflecting the growing adoption of the APB’s digital savings accounts, merchant propositions and other products. Customer balances also saw a robust increase, crossing ₹ 3,332 crore, up by 42 percent YoY.
Airtel Payments Bank continues to be a leading player in India’s digital banking landscape, catering to three key customer segments: Urban Digital, Underbanked, and Industries & Institutions. The Bank processes over 8 billion transactions annually.
With over 5 lakh banking points, Airtel Payments Bank extends financial services to even the most remote areas. Over 97,000 of these banking points are operated by women business correspondents, further empowering local communities.
As a $ 46 billion payments company, the Bank remains at the forefront of driving digital transactions, fostering financial inclusion, and empowering businesses across India.
As the largest micro-cash player in the country, the Bank is currently digitizing ₹8,000 crore in cash transactions each month through partnerships with over 4,000 corporate clients.
The Bank is also a leader in the B2B urban transit segment, having issued over 1.7 million RuPay NCMC-enabled cards to date. The adoption of its merchant offerings, including its innovative Soundbox, continues to rise among businesses.
