Industry

Bharti Airtel Q4 net more than doubles

Photo used for representational purpose only. File

Photo used for representational purpose only. File | Photo Credit: Reuters

Bharti Airtel on Tuesday posted a more than twofold jump in its consolidated net profit to ₹2,008 crore for the quarter ended March 31, driven by an increase in average revenue per user (ARPU) following tariff hikes and exceptional income.

The company, which had posted a net profit of ₹759 crore in the January-March 2021 quarter, registered total revenue of ₹31,500 crore, up 22.3% year-on-year.

“Our consolidated revenues for the quarter grew by 5.5% and EBITDA margins expanded to 50.8%, underscoring our focus on all-round delivery,” Gopal Vittal, MD and CEO, India & South Asia, said. “The mobile business revenues were up 9.5% as we saw the full flow through of tariff increase. Airtel continues to have the highest ARPU at ₹178,”

He added that the homes and enterprise business continue to exhibit very strong growth momentum and the company’s strong balance sheet and cash flows have enabled it to further repay some of our spectrum liabilities ahead of schedule and improve our leverage.

“We continue to remain optimistic about the opportunities in the coming years and believe we are well poised as a company for three reasons. First, our ability to execute consistently to a simple strategy of winning with quality customers and delivering the best experience to them. Second, our future-proofed business model with massive investments in both infrastructure and digital capabilities. Finally, our financial prudence backed by our strong governance focus,” he said.

During the quarter, the mobile ARPU increased to ₹178 as against ₹145 in Q4’21. The company registered overall net exceptional gain (after tax) of ₹984.7 crore, including from sale of tower assets and gain on account of settlement with a strategic vendor.

The company’s consolidated net income before exceptional items for the quarter stood at ₹1,860 crore.

For the full year FY22, the company saw a net profit of ₹4,255 crore against a loss of ₹15,084 crore in the previous fiscal (FY21), while revenues rose 16% to ₹1,16,547 crore.

The telco’s overall customer base stands at 491 million across 16 countries, and the capex spend for the quarter was ₹5,997 crore. Bharti Airtel said its consolidated mobile data traffic stood at 11,550 PBs in the quarter with a YoY growth of 29.5%.

India revenues for Q4’22 came at ₹22,500 crore, an increased by 22.7% YoY,while mobile revenues grew by 25.1% on account of increase in ARPU and strong 4G customer additions during the year.

“ARPU continues to be the best in industry, average data usage per data customer at 18.8 GBs/month and voice usage per customer at 1,083 mins /month,” it added.


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Printable version | Jun 24, 2022 1:54:05 am | https://www.thehindu.com/business/Industry/bharti-q4-net-more-than-doubles/article65423459.ece