Bharti Airtel Shares Rise Following December Quarter Earnings; Check Details of Q3 Results
by Sandip Das on 6 February 2024, 5 min read
The share price of Bharti Airtel jumped over 3 percent in the morning session on February 6, a day after the company declared its December quarter earnings. The company recorded a consolidated net profit of Rs 2,442.2 crore for the October-December quarter. It reflects a 54 percent growth from the same quarter a year ago.
According to a BSE filing, Bharti Airtel posted quarterly revenues of Rs 37,900 crore, up 5.9% YoY. It was partially impacted by currency devaluations in Africa. The India business posted quarterly revenues of Rs 27,811 crore, up 11.4% YoY. This was backed by strong and consistent performance across the portfolio.
The mobile services India revenues were up 11.8% YoY, led by strong 4G/5G customer additions and an increase in ARPU. Airtel Business revenues gained by 8.7% YoY, backed by synergies from emerging portfolios.
Digital TV revenues were up by 6% YoY, driven by improved realization and recovery in net customer additions.
The telecom firm further said that its consolidated EBITDA stood at Rs 20,044 crore. The EBITDA margin came in at 52.9%, an improvement of 94 bps YoY. The India business posted an EBITDA of Rs 15,000 crore. The EBITDA margin came in at 53.9%, up 119 bps YoY.
Consolidated net income (before exceptional items) came in at Rs 2,492 crore. It was up by 25% YoY while consolidated net income (after Exceptional items) stood at Rs 2,442 crore, up by 53.8% YoY.
Gopal Vittal, MD at Bharti Airtel said, “We have delivered yet another quarter of consistent and competitive growth across all our businesses. Revenue from India business sustained its momentum and grew sequentially by 3.0%, while the consolidated revenue was impacted by the devaluation of the Nigerian Naira and Malawian Kwacha.”
“The quarter witnessed a strong growth trajectory for the postpaid and Homes business, while our DTH business added 388k net adds – the highest in the last 12 quarters. We remain on course with our strategy of premiumization that helped us add 7.4 million 4G/5G customers and exit the quarter with an industry-leading ARPU of Rs. 208,” he said.
“Even at this ARPU, our return on capital employed, however, continues to be low at 9.4 percent. To ensure industry health, tariff repair is extremely critical,” he added.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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