Airtel Q3 result: PAT surge 92% YoY

8 Feb 2023 , 09:07 AM

For the December quarter, Bharti Airtel recorded a significant 92% year-over-year (YoY) increase in its consolidated net profit after tax to Rs1,588 crore. Operating revenue climbed by 20% year over year to Rs35,804 crore.

Although the income exceeded the projected amount of Rs35,299 crore, the net profit was less than the average forecast of Rs2,673 crore.

From Rs16,933 crore a quarter earlier and Rs15,164 crore a year ago, the overall expenses in the third quarter increased to Rs17,351 crore. The quarter’s spectrum usage fees grew 4% YoY to Rs2,842 crore but decreased 4% sequentially.

Earnings before interest, taxes, depreciation, and amortization (EBITDA), a measure of consolidated operating profit, were Rs18,601 crore, with an operating margin that increased by 205 basis points year over year to 52%.

EBITDA for the India division was Rs13,167 crore, and margins increased 299 basis points to 52.7%.

Due to modest tariff increases, the average revenue per user, or ARPU, increased slightly from the previous quarter to Rs190 in Q3 to reach Rs193.

With a 19.4% YoY increase, the India business’s quarterly sales were Rs24,962 crore. Revenue from mobile services in India increased by 21% YoY, driven by an increase in ARPU and continuing 4G user growth.

Revenue for the Airtel company climbed by 16.4% year over year, driven by strong demand for connectivity- and data-related solutions as well as new adjacencies.

The residential broadband market maintained its momentum and expanded by about 30% YoY, driven by significant user additions. Digital TV’s market share is steadily increasing.

369 million people were Bharti Airtel customers in India as of December. The overall customer base was close to 511 million when aggregated.

The second-largest telecom provider in the nation spent a total of Rs9,314 crore on capital during the previous quarter. This was more than the second-quarter expenditure of Rs7,047 crore.

As a result, operating free cash flow decreased in the quarter from Rs10,674 crore to Rs9,287 crore.

In comparison to a year before, the combined net debt as of December was Rs2.1 lakh crore.

In comparison to a quarter earlier, when it was 2.96 times, the net debt-to-EBITDA ratio was 2.82 times.

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