Bharti Airtel Q3 Results FY2024, Net profit at Rs.2876.4 crores

Shreya_Anaokar Shreya Anaokar

Last Updated: 5th February 2024 - 06:38 pm

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On 5th February, Bharti Airtel announced its quarterly results.

Key Highlights:

- Bharti Airtel posted revenue from operations at Rs 37,900 crore, up 5.9% YoY, partially impacted by currency devaluations in Africa.
-  Consolidated EBITDA was reported at Rs 20,044 crore; EBITDA margin at 52.9%, an improvement of 94 bps YoY
- Profit after Tax was reported at Rs. 2876.4 crores

Business Highlights:

- India-based business posts quarterly revenues of Rs 27,811 crore, up 11.4% Yoy, driven by robust and steady growth throughout the portfolio.
- Revenues from mobile services in India increased 11.8% YoY, driven by a sharp rise in ARPU and robust additions of 4G and 5G users.
- Airtel Business sales increased 8.7% YoY, supported by rising portfolio synergies.
- The home business continues to grow excellently, with sales rising 23.0% YoY due to steady client additions.
- A 6.0% YoY increase in digital TV revenues was fueled by better realization and a rebound in net customer acquisition.
 - Customers using 4G/5G data increased by 28.2 million YoY and 7.4 million QoQ, accounting for 71% of all mobile users.
- In Q3FY24, postpaid net additions were 0.9 million. 
- The mobile ARPU rose to Rs 208. 
- YoY growth in mobile data use was 21.1%; per customer's monthly consumption was 22.0 GB.
- The homes business continues to grow in Q3FY24, adding 359k new customers. 
- Digital TV net adds reached 388k, the highest level in the previous 12 quarters.

Commenting on results,  Gopal Vittal, MD, 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. 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.”
 

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