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Bharti Airtel Q3 net down -2.81% yoy at Rs830cr on exceptional gains from discontinued operations in Dec-20 quarter

8 Feb 2022 , 10:48 PM

Airtel
Bharti Airtel Ltd reported 12.63% yoy growth in total sales revenues for the Dec-21 quarter on consolidated basis at Rs29,867cr. On a sequential basis, the revenues were up by 5.44%.

During the December 2021 quarter, revenues from the India mobile services were up 19% yoy on the back of higher ARPU. Airtel Business revenues were up 13.4%, while the homes business grew at a robust 40.4%.

During the quarter 4G customers were up 29.9 million yoy while mobile ARPUs increased from Rs.146 to Rs.163. For the quarter, mobile data consumption was up 33.8% while consumption per customer at 18.3 GB per month. During the quarter, Bharti Airtel paid Rs.15,519cr to the government towards deferred spectrum.

For the Dec-21 quarter, the operating profits were up on a yoy basis by 56.57% at Rs6,974cr. During the quarter, the consolidated EBITDA stood at Rs14,905cr while the EBITDA margins stood at 49.9% up by 398 bps yoy.

India business crossed Rs.10,000cr EBITDA for the first time. Consolidated EBIT stood at Rs6,345cr while EBIT margins stood at 21.2%. Google has committed to invest $1 billion into Bharti. Operating margins increased on the back of lower access charges from 16.80% in Dec-20 quarter to 23.35% in the Dec-21 quarter. Operating margins were higher on a sequential basis by 86 bps.

Net Profit after tax (PAT) for the Dec-21 quarter was down -2.81% yoy at Rs830cr on the back of exceptional gains in the comparable Dec-20 quarter despite a strong operating performance. During the Dec-20 quarter, Bharti Airtel had booked profits from discontinued operations to the tune of Rs987cr, which had boosted the base and led to a reduction in PAT growth on a yoy basis.

PAT margins tapered from 3.22% in the Dec-20 quarter to 2.78% in the Dec-21 quarter. The PAT margins were lower by 122 bps on a sequential basis. Bharti Airtel’s reported 35.6cr customers in India and 12.6cr customers in Africa.

Financial highlights for Dec-21 compared yoy and sequentially

Bharti Airtel
Rs in Crore Dec-21 Dec-20 YOY Sep-21 QOQ
Total Income (Rs cr) ₹ 29,867 ₹ 26,518 12.63% ₹ 28,326 5.44%
Operating Profit (Rs cr) ₹ 6,974 ₹ 4,454 56.57% ₹ 6,369 9.49%
Net Profit (Rs cr) ₹ 830 ₹ 854 -2.81% ₹ 1,134 -26.84%
Diluted EPS (Rs) ₹ 1.48 ₹ 1.56 ₹ 2.06
Operating Margins 23.35% 16.80% 22.49%
Net Margins 2.78% 3.22% 4.00%

 

Related Tags

  • Bharti Airtel management
  • Bharti Airtel news
  • Bharti Airtel Q3
  • Bharti Airtel Q3FY22 PAT
  • Bharti Airtel Q3FY22 Result
  • Bharti Airtel Q3FY22 Telecom Business
  • Bharti Airtel quarterly results
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