Bharti Airtel Q1 Results FY2023, Net Income at Rs. 1607 crores

On 8th August 2022, Bharti Airtel announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- Overall customer base stands at 497 million across 16 countries 

- Total revenues stood at Rs. 32,805 crore, up by  22.2% YoY

- EBITDA at Rs. 16,604 crore, up 25.9% YoY; EBITDA margin at 50.6%, expansion of 150 bps YoY

- EBIT at Rs. 7,813 crore, up 43.7% YoY; EBIT margin at 23.8%, expansion of 357 bps YoY 

- Net Income (before exceptional items) for Q1FY23 at Rs. 1,517 crore 

- Net income (after exceptional items) for Q1FY23 at Rs. 1,607 crore 

- Total Capex spend for the quarter of Rs. 6,398 crore

Business Highlights:

INDIA:

- India revenue at Rs. 23,319 crore, up 23.8% YoY  

- EBITDA margin at 51.0%, up 170 bps YoY. EBIT margin at 19.6%, up 424 bps YoY  

- Customer base stands at ~ 362 million  Capex spend for the quarter of Rs. 5,288 crores

AFRICA:

- Revenue (in constant currency) up 15.3% YoY, EBITDA margin at 48.8%, up 54 bps YoY, EBIT margin at 33.7%, up 173 bps YoY  

- Customer base stands at 131.6 million  

- Capex spend for the quarter of Rs. 1,088 crore

Other Highlights:

- Homes business segment continues to tap the robust growth opportunity in the digital landscape which helped in boosting the revenue by 41.9% YoY. The company has added 1.4 Million customers YoY to reach a total base of 4.79 Million. 

- Digital TV continues to amass its strong market position with a 17.4 Million customer base at the end of the quarter. Bharti Airtel continues to make progress through innovative propositions and differential converged experience.

Commenting on the results, Gopal Vittal, MD, and CEO said: “This has been another solid quarter. We continue to deliver strong and sustained growth at 4.5% sequentially. EBITDA margins are now at 50.6%. Our enterprise and home business has strong momentum and delivered strong double-digit growth, improving the diversity of the overall portfolio. Airtel’s strategy of winning with quality customers continues to yield good results with an industry-beating ARPU at Rs. 183. As India gets ready to launch 5G, we are well positioned to raise the bar on innovation. We are also confident of meeting the emerging needs of discerning customers looking for speed, coverage, and latency. Our astute spectrum strategy over the last few years as we bolstered mid-band spectrum is designed to deliver the best experience at the lowest total cost of ownership.”