NEW DELHI: Airtel Payments Bank on Thursday said its revenue witnessed a year-on-year growth of 41 per cent to Rs 400 crore in the Q1 ended June 30, 2023. The unlisted entity of Bharti Group said that its profit grew by 143 per cent on a year-on-year basis without disclosing the actual number.

“For the first time, the Bank’s quarterly revenue grew to Rs 400 crore for the Q1 of financial year (FY) 2024, an increase of 41 per cent YoY. For the Q1’FY24, the Bank’s profits grew by 143 per cent on YoY,” it said. The customer deposits at Airtel Payments grew to Rs 1,922 crore and it now has 5.54 crore monthly transacting users, an annualised gross merchandise value of Rs 2,381,00 crore and revenue of over Rs 1,600 crore on an annual basis.