Bharti Airtel announced a new international partnership to boost its global network. The telecom company has signed an agreement with Sparkle, a leading international service provider in Italy, to secure extra capacity on the new Blue-Raman Submarine Cable System. This system will connect India to Italy and enhance Airtel’s global connectivity.
Sparkle has teamed up with Google and other partners to build the Blue and Raman Submarine Cable Systems. The Blue cable will link Italy, France, Greece, and Israel, while the Raman cable will connect Jordan, Saudi Arabia, Djibouti, Oman, and India. This added capacity will give Airtel a new, faster route for its network between Asia and Europe.
“This partnership will further diversify our network with large integrated capacities to meet the ever‐growing connectivity needs and data demand of our customers,” Vani Venkatesh, CEO ‐Global Business, Airtel Business, said.
The two companies will also collaborate on creating new business opportunities and projects in the Indian subcontinent using their cable networks.
Additionally, Bharti Airtel announced that it will expand its home Wi-Fi service to all 22 districts of Jammu & Kashmir and Ladakh. This expansion will bring Wi-Fi to 1.1 million more households in these areas.
Bharti Airtel reported a 31% decline in its consolidated net profit, which fell to ₹2,071.6 crore for the quarter ending March 31 (Q4) of the financial year 2023-24 (FY24). This is a decrease from ₹3,005.6 crore recorded during the same period last year. Sequentially, net profit also dropped by 15% from ₹2,442.2 crore.
Bharti Airtel Ltd is a prominent global telecommunications provider with operations in 18 countries, including India, Sri Lanka, and 14 African nations. The company offers a wide range of services, such as mobile, voice, and data solutions, utilising 2G, 3G, 4G, and 5G technologies. Airtel provides services through both wireless and fixed-line technologies, including national and international long-distance connectivity, broadband, Digital TV, and comprehensive telecom solutions for enterprise customers.
On September 13, 2024, the share price of Bharti Airtel Ltd opened at ₹1,651.00, touching the day’s high at ₹1,654.90, as of 9:40 AM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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