Bharti Airtel Q2FY23 PAT up 89.2% at Rs2,145 crore as operating margins surge 540 bps to 25%

2 Nov 2022 , 12:18 PM

Bharti Airtel reported 21.89% growth in total revenues for the September 2022 quarter on consolidated basis at Rs34,527 crore. Revenue were up by 5.25% in sequential terms.

For Q2FY23, the Airtel 5G has gone live in 8 Indian cities. As of the September quarter, the total customer base of Bharti Airtel stood at 50.15 crore while the network towers stood at 286,570.

For the quarter, it reported EBITDA of Rs17,721 crore and EBIT of 8,762 crore. Capex for the quarter stood at Rs70,469 crore while the net debt stands at Rs2.10 trillion.

Its operating free cash flows (net of capex) stands at Rs106,742 crore for the latest quarter.

The net profits for the quarter surged by 89.2% at Rs2,145 crore on a yoy basis and the profits were up on a sequential basis by 33.52%.

For the quarter, Bharti Airtel reported EBITDA margins of 51.2% and EBIT margins of 25.4%. The net debt to EBITDA stands at 2.96 times. The company trades in the market at an EV/EBITDA ratio of 9.46 times while the PE ratio is relatively expensive at 65.8 times.

Net Margins were at 6.21% in Q2FY23 compared to 4.00% in Q2FY22 and net margins at 4.90% in Q1FY23 quarter on exceptional gains.

Financial highlights for Sep-22 compared yoy and sequentially

	Bharti Airtel
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 34,527	₹ 28,326	21.89%	₹ 32,805	5.25%
Net Profit (Rs cr)	₹ 2,145	₹ 1,134	89.17%	₹ 1,607	33.52%
Diluted EPS (Rs)	₹ 3.75	₹ 2.06		₹ 2.84
Net Margins	6.21%	4.00%		4.90%