Airtel announces major tariff hike in recharge plans after Jio starting July 3, know the new rates

Bharti Airtel, India's second-largest telecom operator after Reliance Jio, has announced a hike of 10% to 21% in mobile tariffs. Sunil Bharti Mittal's telecom company said that it will hike mobile tariffs starting July 3, 2024. Now the cheapest plan of Rs 179 will be available for Rs 199. It has 28 days of validity, unlimited calling, and 2 GB of data. The same plan of Rs 265 will be available for Rs 299. It has 28 days of validity, unlimited calling, and 2 GB of data daily.

Airtel said that it believes that the average revenue per user (ARPU) should be above Rs 300 to enable the business model for telecom companies in India to be financially viable. We are increasing the entry-level plan by 70 paise per day.

Due to the increase in Airtel's recharge plan, its shares have reached a record high today. During trading, the stock touched a high of 1536 rupees. However, it is currently trading at 1467, with a decline of 0.46%. This year, the stock has risen 44%.

Airtel's consolidated profit for the entire years 2024 fell by 10.5 percent to Rs 7467 crores. Profit in the financial year 2023 was Rs 8345 crore. The company's revenue from operations in the year 2024 increased to Rs 1.50 lakh crore. But in the year 2023, the revenue generated was around Rs 1.39 lakh crore, i.e., there was an increase of 8% in the revenue.

A day before, Reliance Jio had announced that it would increase the price of its prepaid and postpaid plans by 15% to 25%. The new tariff plans will be implemented on July 3. Now the plan of Rs 239 will be available for Rs 299. The cheapest plan was Rs 155, which will be available for Rs 189.

Along with increasing the monthly and long-term recharge plans, the company has also increased the price of data add-ons, i.e., the plan in which you get extra data after the data limit is exhausted. Earlier, 1 GB of data used to cost Rs 15; now it will cost Rs 19.