Bharti Airtel’s consolidated net profit down y-o-y by 31% in March quarter

15 May 2024 , 12:36 PM

Bharti Airtel recorded a consolidated net profit of ₹2,072 Crore for the March quarter of fiscal year 2023-24, a 31.1% decrease from the previous corresponding period.

Its consolidated Q4 revenue was ₹37,599 Crore, up 4.4% from the previous year, impacted by the weakening of African currencies during the period, particularly the Nigerian naira, the telecom operator stated in an exchange filing.

While revenue matched expectations, net profit fell short of Street estimates. Brokerages estimated Airtel’s net profit to be between ₹2,201 Crore and ₹5,309 Crore, with sales ranging from ₹38,736 Crore to ₹39,360 Crore.

India’s revenue for Q4FY24 was ₹28,513 Crore, an increase of 12.9% year on year. Mobile revenue increased by 12.9% YoY due to improved realisation and significant 4G/5G user additions throughout the year.

Consolidated mobile data traffic totaled 17,702 PBs in the quarter, representing a significant YoY growth of 26.2%.

In Q4FY23, Sunil Mittal-led telco recorded a consolidated PAT of ₹3,005 Crore attributable to the company’s shareholders. The PAT increased to ₹4,226 Crore with the inclusion of non-controlling interests. Revenue totaled ₹36,009 Crore.

Airtel’s consolidated EBITDA rose 4.2% YoY to ₹19,590 Crore in Q4’24. EBITDA margin is 52.1% in Q4’24, compared to 52.2% in Q4’23. EBITDA margins across businesses were strong, with India’s rising from 53.1% in Q4’23 to 53.6% in Q4’24.

At around 12.13 PM, Bharti Airtel was trading 0.39% higher at ₹1,289.35 per piece, against the previous close of ₹1,284.30 on NSE.

The telco gained 7.8 million smartphone subscribers and generated an industry-leading ARPU of ₹209, up from ₹193 in Q4FY23, owing to a continued focus on gaining quality consumers and improving the mix. The corporation has declared a dividend of ₹8 for each equity share with a face value of ₹5.

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