Telcos’ operating profit to jump 15% to Rs 1.2 lakh crore in FY24: Crisil
MUMBAI: Indian telcos' operating profit is likely to rise by up to 15 per cent to Rs 1.2 lakh crore in FY24, a domestic rating agency said on Monday.The players had reported an operating profit of Rs 1.04 lakh crore in the year-ago period, Crisil Ratings said.Demand for bigger data packs amid surging consumption will be the key reason for the FY24 profit growth in an industry which has witnessed massive difficulties in the last few years, since the entry of the deep-pocketed Reliance Jio.Average revenue per user (ARPU), which had been on a declining trend for the last few years, will grow by 8-10 per cent to Rs 190 despite no broad-based tariff hike likely in the near-term as telcos focus on migrating 4G subscribers to 5G services, its deputy chief ratings officer Manish Gupta said."Growt...