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SpiceJet Ltd on Monday said it has hived off its cargo and logistics business <keyword id="6866514" type="General" weightage="20" keywordseo="SpiceXpress" source="Orion">SpiceXpress</keyword> into a separate entity -- SpiceXpress and Logistics Pvt Ltd, from April 1. The move results in a one-time gain of Rs 2,555.77 crore for SpiceJet, substantially reducing its negative net worth, the company said. It also paves the way for SpiceXpress to raise funds independently, SpiceJet said. The decision to hive off SpiceXpress is in sync with the company's long-term business plan and will unlock significant valuation of the logistic business, SpiceJet Ltd Chairman Ajay Singh said. Singh further said "the separation of our cargo and logistics arm is a stepping stone in our growth story which shall unfold in the times to come". SpiceXpress reported a net profit of Rs 51.4 crore for the April-December period of FY23. "In a bid to boost the growth of its cargo business and provide a more streamlined and efficient service to its customers, SpiceJet Ltd has completed the hive off of its cargo and logistics division 'SpiceXpress' into a separate entity, SpiceXpress and Logistics Private Limited," the company said. The consideration for the slump-sale will be discharged by SpiceXpress by issuance of securities in the combination of equity shares and compulsorily convertible debentures to SpiceJet for an aggregate amount of Rs 2,555.77 crore which will also strengthen the balance sheet of SpiceJet, it said. According to Singh, "SpiceXpress will provide greater and differentiated focus to cargo and logistics business and will allow the possibility of raising capital for the business to accelerate its growth". Both SpiceJet and SpiceXpress have great potential and will complement each other well, he added. He also said that the hive off will not only enable SpiceXpress to raise cash independently, it will significantly reduce SpiceJet's negative net worth. "Having restructured over USD 100 million, outstanding dues to Carlyle Aviation Partner last month, the hive off will further strengthen and deleverage our balance sheet," Singh said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/avalon-technologies-ipo-top-10-points-about-this-electronic/slidelist/99201942.cms">Avalon Technologies IPO opens – 10 things you need to know before you subscribe</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/top-stocks-that-delivered-the-highest-yield-over-one-year/slidelist/99145713.cms">Time to bet on dividend income: Top stocks that delivered the highest yield over one year</a>

SpiceJet hives off cargo & logistics biz into separate entity from Apr 1

New Delhi, Nov 26 () Sical Logistics, a Coffee Day Group company, has sought shareholders' nod to sell, dispose off or hive off multiple business undertakings to pare debt. 
 In order to pay off its debts and to run major businesses of the company in a smooth manner, the board of the company in August directed the management to explore opportunities to deleverage the company and its subsidiaries.
 In a notice sent to its shareholders, the company said that the resolution "to sell, dispose off or hive off the business undertakings, are proposed to be passed through a postal ballot and remote electronic voting by the shareholders of the company."
 To find the suitable buyers, the proposal has to be approved by the company's shareholders, Sical Logistics said in a regulatory filing to BSE.
 The company is looking to sell its various business units as well the shareholdings held in the subsidiaries either as such or consolidating by purchasing the shares held by any other investors in the subsidiaries. 
 "Such sale shall be for a price which shall be based on valuation and the same may be either through strategic sale or slump sale as would be found advantageous to the company whereby the stakeholders interests would be taken sufficient care of," the company said.
 Such proceeds would be utilised to pay off the debts, it said adding that the company is in the process of identifying suitable buyers.
 Sical Logistics is an integrated logistics solution provider for bulk and containerised cargo in India. Coffee Day Group acquired Sical in September, 2011, as per the company's website. SID SID ANS
ANS

Coffee Day Group's Sical Logistics seeks shareholders' nod to sell biz undertakings

<ul><li>The Gurugram-based airline has widened its loss in the last five quarters as travel restrictions remain across the globe.</li><li>The company flew with the least number of passengers in April and May compared to the previous months of 2021.</li><li>Shares of <keyword id="6358032" type="CITY" weightage="20" keywordseo="SpiceJet">SpiceJet</keyword> were down 4.4% as investors were disappointed with the airline’s financial performance.</li></ul>SpiceJet seems to be struggling to sell its tickets as aircraft of the Gurugram-based airlines flew with the least numbers of passengers -- in 2021 -- in the last two months, which dug a hole in its pockets. Business operations of the airline industry have been highly affected as the government has restricted travel due to the continued impact of the pandemic. The company’s chairman and managing director (MD) indicated that it struggled to sell its tickets in the last five quarters. “The last five quarters have been the most difficult phase ever for SpiceJet as aviation remained the worst‐hit sector during the second wave as well. Q1 [first quarter] was severely impacted by the second wave as passenger traffic almost disappeared,” said Ajay Singh, MD and chairman in the earnings release. The company was able to utilise its passenger capacity much better than its peer Interglobe Aviation (Indigo). <div type="image" title="Copy of Copy of Zomato" msid="85366388" hostid="261"></div> Passenger load factor (PLF), is an airline industry metric that measures how much of an airline’s passenger carrying capacity is used. And here SpiceJet’s capacity utilisation hovered between 64-78% while Indigo’s capacity remained less than 60% in the last two months. In fact, SpiceJet’s best passenger load factor was best amongst all airlines in the country during the quarter. The average domestic load factor for the quarter was 69.5%. SpiceJet and Indigo are low cost airlines, which are budget-friendly. <div type="image" title="Spicejet stock" height="900" width="1200" msid="85366402" hostid="261"></div> Both the low cost airlines have been incurring loss. especially in the last 15 months, which saw major travel restrictions across countries. SpiceJet reported a loss of ₹731 crore in June quarter of this year, which widened from ₹256 crore loss in March quarter and ₹600 crore in June quarter of 2020. Shares of the company were also affected with its disappointing June quarter results. The stock was down 4% at ₹69 at 1:24 p.m., on Monday, August 16. <div type="image" title="Spicejet revenue" height="900" width="1200" msid="85366419" hostid="261"></div> At a time when the company is unable to sell its passenger tickets, it is filling up its cargos to make some money. SpiceXpress reported a profit of ₹30 crore in June quarter. SpiceXpress is the dedicated air cargo service that provides integrated logistics solutions. Its network spans over 68 domestic and 111 international destinations including US, Europe and Africa. In the June quarter it carried more than 43,000 tonnes of cargo. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-hits-50-million-downloads-on-play-store/articleshow/85366359.cms">Battlegrounds Mobile India hits 50 million downloads on Play Store</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/one-third-of-indians-hold-cryptocurrencies-and-youngsters-are-leading-the-charge/articleshow/85364856.cms">One third of Indians hold cryptocurrencies and youngsters are leading the charge, according to a new report</a>

Flying with the least number of passengers in April, May burns a $100 million hole in SpiceJet’s books

<ul><li>At 7:40 am, the SGX Nifty was trading 1.06% higher, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on positive note tracking cues from the global peers. At 7:40 am, the SGX Nifty was trading 1.06% higher, indicating a higher start for Nifty50. The US stocks also ended higher on Monday, fueled by a rebound in big tech names. The Dow Jones Industrial Average closed 1.18% higher, and the S&amp;P 500 rose 1.27%. Here’s a list of stocks to watch for in trade on September 15: Future Retail Future Retail reported a net loss of ₹242.2 crore for the quarter ended June 30. The company’s overall revenue was down 88.6% to ₹ 163.2 crore compared to the same period last year. The shares of Future Retail closed 5% lower yesterday. ICICI Bank ICICI Bank said the RBI had exempted it from provisions of the Banking Regulation Act 1949 relating to its investments in its insurance companies. A government notification exempts ICICI Bank from cutting stake to 30% in ICICI Lombard General Insurance and ICICI Prudential Life Insurance, for a period of three years. The shares of ICICI Bank closed 2% lower on Monday. Central Bank of India The Central Bank of India has reduced its marginal cost of funds-based lending rates (MCLR) by 5 basis points (bps) across all tenors, effective from Tuesday. The city-based lender has cut the one-year MCLR to 7.10% from 7.15%, a release said. The shares of the Central Bank of India closed flat on Monday. PVR Limited PVR Limited reported a net loss of ₹225.6 crore for the quarter ended June 30. The company’s overall revenue was down 98.6% to ₹12.7 crore compared to the same period last year. The shares of PVR Limited closed 5% higher yesterday. Indiabulls Housing Finance Indiabulls Housing Finance raised about ₹1,205 crore over the last few days through its qualified institutional placement (QIP) and partial stake sale in UK-based OakNorth Bank Ltd. The non-banking finance company (NBFC) has raised ₹682.87 crore through the QIP and ₹522 crore from the partial stake sale. The shares of Indiabulls Housing Finance closed 5% higher on Monday. Raymond Limited Apparel maker Raymond reported a net loss of ₹247.6 crore compared to last year loss of ₹12.2 crore. The company’s consolidated revenue declined by 88.6% to ₹163.2 crore. The shares of Raymond Limited closed 3% higher on Monday. SAIL: Steel Authority of India Steel Authority of India reported a net loss of ₹1,226.5 crore for the quarter ended June 30. The company’s overall revenue was down 38.8% to ₹ 9,067.5 crore compared to the same period last year. The shares of SAIL closed 2% higher yesterday. Ashok Leyland Hinduja Group-owned Ashok Leyland launched a new light commercial vehicle (LCV) yesterday. Chairman Dheeraj Hinduja said the new LCV comes with the right and left-hand drive options, enabling the company to look at international markets. The shares of Ashok Leyland closed 10% higher yesterday. Allcargo Logistics, SpiceJet, Future Enterprises, and Zee Media Corporation These companies are slated to report their quarterly earnings to the stock exchanges today. SEE ALSO: <a href="https://www.businessinsider.in/india/news/spicejet-airlines-share-price-spikes-4-ahead-of-earnings-tomorrow/articleshow/78107627.cms" data-type="tilCustomLink">SpiceJet shares spike ahead of earnings— losses are certain, but cargo operations may hold some respite</a> <a href="https://www.businessinsider.in/tech/news/oracle-wins-bid-to-become-tiktoks-trusted-technology-provider-in-us/articleshow/78110292.cms" data-type="tilCustomLink">Oracle wins bid to become TikTok's 'trusted technology provider' in US</a>

Top stocks to watch— Future Retail, PVR, Central Bank, ICICI Bank, SpiceJet, Indiabulls Housing Finance, Ashok Leyland and more

Mumbai, Mar 31 () The government on Tuesday announced setting up of a "cargo air-bridge" between India and China, and said that regular cargo flights for transporting critical medical supplies between the two countries are likely to be operated by Air India from April 3. In an official release, the civil aviation ministry also said it has operated as many as 62 cargo services in the past five days, starting March 26, under its recently launched 'Lifeline Udan flights' initiative, transporting over 15.4 tonnes of essential medical supplies. The initiative is aimed at ferrying medical and essential supplies from one place to another across the country. "On the international front, Air India has established a cargo air-bridge between India and China. Regular cargo flights for transporting critical medical equipment and supplies between the two countries are likely to be operated by Air India from April 3, 2020 onwards," the ministry said. The Lifeline Udan flights are being operated using the hub-and-spoke model, with New Delhi, Mumbai, Bengaluru, Hyderabad and Kolkata serving as the four hubs. Of the 62 flights, as many as 45 flights have been operated by the flag carrier Air India and its regional arm, Alliance Air, while the rest 17 by the Indian Air Force and private carriers IndiGo and SpiceJet, the release said. It also said Air India and IAF collaborated for operating Lifeline Udan services to Ladakh. Private carriers like IndiGo, Spicejet and BlueDart are operating medical cargo flights on a commercial basis, it stated. The lifeline cargo includes COVID-19-related reagents, enzymes, medical equipment, testing kits, personal protective equipment (PPE), masks, gloves and other accessories required by "Corona Warriors" across the country. The carriers involved in Lifeline Udan operations include Air India, Alliance Air, Indian Air Force (IAF) and Pawan Hans, the release said adding that it is also getting support from the Airports Authority of India (AAI) and its cargo and logistics subsidiary AAICLAS, AI Airports Services (AIASL), PPP airports and private ground handling entities, among others. The civil aviation ministry and all aviation stakeholders are determined to support India's war against COVID-19 by transporting essential medical supplies by air in the most efficient, seamless and cost-effective manner, it said. IAS HRS

Govt sets up 'cargo air-bridge' between India, China

<keyword id="6356662" type="General" weightage="100" keywordseo="singapore" source="Orion">Singapore</keyword> Airlines' deal with Tata Sons (Tata) will inject a further <keyword id="366395" type="General" weightage="80" keywordseo="sgd" source="Orion">SGD</keyword> 360 million (USD 267 million) into Air <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>. It will give <keyword id="6359180" type="General" weightage="80" keywordseo="sia" source="Orion">SIA</keyword> a 25.1 per cent stake in the enlarged Air India group following its takeover by Tata and merger with <keyword id="2468721" type="General" weightage="50" keywordseo="vistara-airlines" source="Orion">Vistara Airlines</keyword>. The November 2022 deal between Singapore Airlines and Tata Sons to further inject USD 267 million into Air India is one of the key strategic initiatives for future growth mentioned in the quarterly financial report. This agreement is still subject to regulatory approval. SIA in the statement said, "The merged entity will be four to five times larger in scale compared to <keyword id="2467342" type="General" weightage="50" keywordseo="vistara" source="Orion">Vistara</keyword>, with a strong presence in all key airline segments in India. The proposed merger will bolster SIA's presence in India, strengthen its multi-hub strategy, and allow it to continue participating directly in this large and fast-growing aviation market." The airline further said, "Deeper collaboration with like-minded airlines is an integral part of the SIA Group's partnerships strategy. This enables SIA and its partners to drive more traffic to their hubs, offer more options to customers, and increase the Group's global footprint." Last week, Singapore Airlines (SIA) announced that net profit for Q3 which ended in December, came in at Singapore dollar (SGD) 628 million (USD 465 million) and financial year-to-date profits touched SGD 1,555 million (USD 1,152 million). They are the highest the airline has ever earned in a quarter as well as for the first nine months of a financial year. The airlines said in a statement that this is due to "the robust demand for air travel continuing into the third quarter of FY2022/23, building on the momentum that began after Singapore relaxed its border restrictions in April 2022." SIA financial year starts in April. This comes on the back of Singapore's announcement that from February 13, it will relax all remaining Covid restrictions for travellers as well as locals. Travellers who are not fully vaccinated against Covid will no longer need to show proof of a negative pre-departure test before entering Singapore and do not need to buy travel insurance to cover Covid treatment if they fall ill on the island. Those who are vaccinated no longer need to show proof on arrival. The use of a face mask on public transport which was the last remaining local Covid-era protocol is no longer mandatory as of the same date. Singapore was one of the first Asian countries to reopen after the Covid pandemic and that has aided its tourism industry along with its national carrier. Besides government grants to affected industries during Covid, the airline was the beneficiary of its shareholders and financial institutions' confidence in its business as it managed to raise SGD 22.4 billion (USD 16.6 billion) during Covid including SGD 15 billion from shareholders (largest of which is state investment firm Temasek Holdings) through sales of shares and convertible bonds. As of December 2022, it still holds a cash balance of SGD 15.4 billion. This allowed it to keep most of its staff and fleet and facilitated restoration of routes quickly once travel resumed. This was unlike other regional airlines which had to let staff go and sell aircraft to keep afloat.SIA reported that its group passenger capacity reached 80 per cent of pre-Covid levels in December 2022, higher than the average of 51 per cent for the Asia-Pacific region. Its two main airline brands carried 7.4 million passengers in the third quarter, up 17 per cent from the second quarter. When added to the first two quarters, the SIA Group served 18.8 million passengers for the first nine months of the financial year. This is a nine-fold increase from a year earlier (2021) when most of the world's borders were still closed. Passenger load factors for the Group improved by 0.8 percentage points to 87.4 per cent, the highest for any quarter, on the back of record load factors for both premium airline, SIA (87.3 per cent) and low-cost carrier, Scoot (87.8 per cent). SIA reported that its cargo performance moderated compared to the previous quarter due to softening demand, as well as an increase in belly hold capacity as more passenger aircraft returned to service globally. While yields were weaker quarter-on-quarter, they remained elevated -- almost double -- compared to pre-Covid levels. Overall, SIA's revenue for the three months to December rose SGD 358 million (USD 265 million), an 8 per cent quarter-on-quarter increase to SGD 4,846 million (USD 3,589 million), a record. Passenger-flown revenue increased by 14 per cent or SGD 463 million to SGD 3,767 million as traffic grew 12.2 per cent for the quarter, outpacing the 11.1 per cent expansion in capacity. Revenue per available seat-kilometre (RASK) was 10.6 Singapore cents, the highest quarterly RASK in the Group's history. Cargo flown revenue fell 14.1 per cent or SGD 141 million (USD 104 million) to SGD 862 million (USD638 million), with the lower yields which were down 14.6 per cent partially mitigated by a slight uptick in loads, up 0.6 per cent. Expenditure increased 7.4 per cent or SGD281 million (USD208 million) quarter-on-quarter to SGD 4,091 million (USD 3,030 million). This comprised an SGD 371 million (15.5 per cent) rise in non-fuel expenditure that was partly offset by an SGD 90 million decrease (-6.3 per cent) in net fuel cost. The increase in non-fuel expenditure was higher than the increase in capacity, mainly driven by higher foreign exchange losses of SGD 194 million (USD 144 million) recorded at the end of the current quarter with the US dollar weakening 6.1 per cent against the Singapore dollar. Net fuel cost fell to SGD 1,333 million (USD 987 million) mainly due to a 13 per cent drop in fuel prices. This was partly offset by higher volumes uplifted (+USD 103 million) and lower fuel hedging gain (+USD 19 million). SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-to-continue-driving-auto-sales-in-february-evs-gain-a-stronghold/articleshow/98272857.cms">Passenger vehicles to continue driving auto sales in February, EVs gain a stronghold</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-to-raise-2500-crore-fresh-capital-convert-carlyles-debt-into-equity-and-demerge-cargo-biz/articleshow/98270557.cms">SpiceJet to raise ₹2,500 crore fresh capital, convert Carlyle’s debt into equity and demerge cargo biz</a> <a href="https://www.businessinsider.in/business/corporates/news/stock-price-run-up-in-paytm-nykaa-zomato-pb-fintech-delhivery-could-see-large-shareholders-cashing-out-bofa/articleshow/98274102.cms">Stock price run up in Paytm, Nykaa, Zomato, PB Fintech &amp; Delhivery could see large shareholders cashing out - BofA</a>

Singapore Airlines to get 25.1% stake in enlarged Air India group

<ul><li><keyword id="15491" type="General" weightage="80" keywordseo="airtel" source="Orion">Airtel</keyword> currently has the best ARPU in the Indian telecom sector at ₹193, but it is still significantly lower than the ₹300 the company<a href="https://www.businessinsider.in/business/telecom/news/bharti-airtels-ceo-wants-vodafone-idea-to-survive-and-stay-on/articleshow/73973990.cms"> has said is the minimum ARPU necessary to ensure reasonable return on capital.</a> </li><li>Airtel chairman Sunil Bharti Mittal said he hopes for a tariff hike by mid-2023. </li><li>Airtel is betting on multiple factors to drive ARPU growth – raising base tariffs in select circles, focussing on increasing postpaid coverage in its top towns, and rising usage of 5G-capable smartphones. </li></ul>A ramp up in postpaid subscribers and 5G-powered premiumisation are expected to drive growth for India’s No. 2 telecom company Bharti Airtel, especially at a time when tariff hikes have not rolled in as expected. Airtel’s continued expansion of 5G services across the country is expected to drive up data usage, leading to premiumisation. While Airtel started tentatively experimenting by hiking tariffs of its base ₹99 plan offering in select circles in November last year, it has still not increased prices across the board. This has resulted in muted growth in Airtel’s average revenue per user (ARPU), a key metric to understand a telecom company’s performance. In the December quarter, Airtel’s ARPU grew by a meagre 1.6% sequentially. However, now that 5G is here and Airtel has rolled it out in 108 cities across the country with a target of covering all major cities by the end of this year, analysts expect it to result in a much-needed ARPU boost as data consumption is higher on 5G than 4G. “We expect robust mobile revenue growth, and ARPU to rise, driven by subscriber migration from 2G to 4G, subscriber migration to higher bucket data plans due to a surge in data usage, gains in high-value postpaid subscribers, and segmented tariff hikes,” said a report by HSBC. For context, Airtel’s postpaid subscriber base increased to 19 million in Q3 FY23, from 17.6 million in the same period last year. It also added more postpaid subscribers in the December quarter (at 6.53 lakh) than in the previous two quarters combined (at 5.32 lakh). <cmsannotation type="cmsannotation" annotationid="Here’s what will drive ARPU growth going forward" comment="subhead" text="Here’s what will drive ARPU growth going forward">Here’s what will drive ARPU growth going forward</cmsannotation> In an analyst call, Airtel underlined multiple factors that will drive its ARPU growth going forward, including – raising base tariffs in select circles, focussing on increasing postpaid coverage in its top towns, and a fifth of its total subscribers having 5G-capable smartphones by the end of FY24. According to analysts at HSBC, Airtel hiking the base plan tariff from ₹99 to ₹155 in 17 out of 22 circles is another positive contributor to ARPU growth. The telco also underlined that the top 150 towns in the country account for 40% of the total industry revenue. To drive its revenue growth, Airtel said it would focus on these towns in terms of expanding its postpaid subscriber base, attracting subscribers with its 5G availability. According to an analysis by HSBC, postpaid ARPUs stand at 1.6-1.7x that of prepaid, and Airtel’s focus on increasing its postpaid subscriber base augurs well for ARPU growth. Lastly, Airtel also said that it expects 20% of its subscribers to have 5G-capable devices by the end of March 2024. The telco has a target of reaching 300 cities by then, and analysts<a href="https://m.economictimes.com/industry/telecom/telecom-news/airtel-jio-target-100-150-million-5g-conversions-by-march-2024/articleshow/96837399.cms"> expect</a> high data allowances to lure existing subscribers into converting to 5G. <cmsannotation type="cmsannotation" annotationid="Airtel chairman hints at tariff hike by mid-year" comment="subhead" text="Airtel chairman hints at tariff hike by mid-year">Airtel chairman hints at tariff hike by mid-year</cmsannotation> Analysts have been <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-and-reliance-jio-could-hike-tariffs-by-as-much-as-10-according-to-analysts/articleshow/96375427.cms">expecting tariff hikes</a> for a few months now but the hikes have been slow to materialise. Now, Airtel chairman Sunil Bharti Mittal has said that a tariff hike is likely by mid-2023. “Lot of capital has been injected that has made the balance sheet strong but the return on capital of this industry is very low. That needs to change. We are talking of small increments that need to come in the Indian tariff situation. I hope half (by mid) of this year,” Mittal said at the ongoing Mobile World Congress in Barcelona, Spain, responding to a PTI query. Although Airtel’s ARPU at ₹193 is the best in the industry, it is still significantly lower than the ₹300 the company<a href="https://www.businessinsider.in/business/telecom/news/bharti-airtels-ceo-wants-vodafone-idea-to-survive-and-stay-on/articleshow/73973990.cms"> has said is the minimum ARPU necessary to ensure reasonable return on capital.</a> Responding to a query on the impact of tariff increase on people at the bottom of the pyramid, <a href="https://www.moneycontrol.com/news/tags/sunil-bharti-mittal.html">Mittal</a> said the hike would be low compared to people’s spending on other things and disagreed that they will be impacted. "Salaries have gone up, rents have gone (up), except one thing. There is no one complaining. People are consuming 30 GB for almost paying nothing. We don't have more Vodafone type scenarios in the country,” Mittal added, underlining the need for tariff hikes. <cmsannotation type="cmsannotation" annotationid="Data usage and subscribers on the rise" comment="subhead" text="Data usage and subscribers on the rise">Data usage and subscribers on the rise</cmsannotation> In its Q3 FY23 earnings,<a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-q3-net-profit-jumps-91-to-1588-crore-misses-estimates/articleshow/97698481.cms"> Airtel reported</a> data usage of 20.8GB per user per month during the quarter, increasing from 18.7GB during the same period a year ago – this is a 11% increase year-on-year. Another shot in the arm for Airtel during the quarter was a healthy addition of data users – the telco reported an increase of 6.4 million data subscribers sequentially and 21.2 million year-on-year. Airtel’s 4G subscribers as a percentage of its total subscribers also witnessed an improvement in the December quarter, increasing to 65% from 61% a year ago. The rise in 4G subscribers also reflects in the ARPU growth on a year-on-year basis, which rose to ₹193 in Q3 FY23, from ₹163 in Q3 FY22. Put together, wider 5G availability, converting existing subscribers to 5G by luring them with higher data allowances, focussing on the top 150 towns and targeting postpaid subscriber growth should help Airtel deliver ARPU improvements. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-to-continue-driving-auto-sales-in-february-evs-gain-a-stronghold/articleshow/98272857.cms">Passenger vehicles to continue driving auto sales in February, EVs gain a stronghold</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-to-raise-2500-crore-fresh-capital-convert-carlyles-debt-into-equity-and-demerge-cargo-biz/articleshow/98270557.cms">SpiceJet to raise ₹2,500 crore fresh capital, convert Carlyle’s debt into equity and demerge cargo biz</a> <a href="https://www.businessinsider.in/india/news/elephant-will-not-march-but-run-powered-by-private-consumption-union-amc/articleshow/98182584.cms">Elephant will not march but run, powered by private consumption: Union AMC</a>

You Searched For "SpiceJet cargo and logistics biz" and got 7 results

SpiceJet hives off cargo & logistics biz into separate entity from Apr 1

PTI

Coffee Day Group's Sical Logistics seeks shareholders' nod to sell biz undertakings

PTI

Flying with the least number of passengers in April, May burns a $100 million hole in SpiceJet’s books

Bhakti Makwana

Top stocks to watch— Future Retail, PVR, Central Bank, ICICI Bank, SpiceJet, Indiabulls Housing Finance, Ashok Leyland and more

Navdeep Yadav

Govt sets up 'cargo air-bridge' between India, China

PTI

Singapore Airlines to get 25.1% stake in enlarged Air India group

ANI

Airtel’s ARPU improvements to be driven by postpaid subscribers and 5G-powered premiumisation

Rounak Jain

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