Bharti Airtel Q4 Profit Surges 54% to ₹2,442 Crore

6 Feb 2024 , 11:05 AM

Bharti Airtel reported a 54% increase in net profit to ₹2,442 crore for Q4 of December 2023, compared to ₹1,588 crore the previous year, falling short of CNBC-TV18’s poll expectation of ₹3,200 crore.

Revenue from operations rose by 6% to ₹37,899.5 crore, impacted partially by currency devaluations in Africa, compared to ₹35,804 crore in the same quarter last year.

ARPU improved to ₹208 in Q3, up from ₹193 in the corresponding quarter of the previous year.

Consolidated EBITDA increased by 1.2% to ₹20,044 crore, leading to an EBITDA margin improvement to 52.9%, surpassing CNBC-TV18’s poll expectation of ₹19,800 crore.

Capex for the quarter amounted to ₹9,274 crore. Consolidated net income before exceptional items was ₹2,492 crore, up by 25.0% YoY, while after exceptional items, it stood at ₹2,442 crore, up by 53.8% YoY.

MD Gopal Vittal stated that the revenue from the India business sustained momentum, growing by 3.0% sequentially, while consolidated revenue was impacted by currency devaluation in Nigeria and Malawi.

The quarter witnessed strong growth in the postpaid and Homes business, with the DTH business adding 388k net adds, the highest in the last 12 quarters.

Bharti Airtel’s overall customer base spans 551 million across 16 countries. At the time of writing, shares of Bharti Airtel trades 3.13% higher at ₹1,148.60 apiece.

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