Bharti Airtel reports stellar Q1 earnings

8 Aug 2022 , 05:35 PM

Consolidated revenue from operations jumped 22.16% to Rs 32,804.6 crore in Q1 FY23 as against Rs 26,853.6 crore posted in the corresponding quarter previous year. The company said that that rise in revenue was backed by strong and consistent performance delivery across the portfolio. The profit before tax stood at Rs 3,592 crore in Q1 FY23, up 105.8% to Rs 1,745 crore reported in the same period previous year. Consolidated EBITDA stood at Rs 16,604 crore, rising 25.9% year on year (YoY). EBITDA margin improved 150 bps YoY to 50.6% in Q1 FY23. India revenues for Q1 FY23 stood at Rs 23,319 crore, increased by 23.8% YoY. Average revenue per user (ARPU) jumped 25.34% to Rs 183 I n Q1 FY23 as compared to Rs 146 reported in Q1 FY22. Mobile revenues grew by 27.4% YoY on account of increase in ARPU and strong 4G customer additions during the year. The company said it added 20.8 million 4G customers to its network over last year, an increase of 11.3% YoY. ARPU continues to be the best in industry, average data usage per mobile data customer at 19.5 GBs/month and voice usage per customer at 1,104 mins /month. The companys customer base in India stood at nearly 362 million, rising 0.7% sequentially and 3.3% year on year. Airtels Homes business segment continues to tap the robust growth opportunity in the digital landscape which helped in boosting the revenue by 41.9% YoY. The company added approximately 1.4 million customers YoY to reach to a total base of 4.79 million. The company said its Digital TV continues to amass its strong market position with 17.4 million customer base at the end of quarter. Revenue (in constant currency) from Africa business was up 15.3% YoY. EBITDA margin was at 48.8%, rising 54 bps YoY. Customer base stands at 131.6 million at the end of June 2022. Bharti Airtel said, ?Airtel to lead Indias 5G revolution with acquisition of ideal spectrum bank at least cost for best 5G experience and 100x capacity enhancement; procured 19,867.8 MHz spectrum for Rs 43,040 crore in the recently concluded 5G spectrum.? In a statement, Gopal Vittal, MD and CEO, said, ?This has been another solid quarter. We continue to deliver strong and sustained growth at 4.5% sequentially. EBITDA margins are now at 50.6%. Our enterprise and homes business has strong momentum and delivered strong double digit growth, improving the diversity of the overall portfolio. Airtels strategy of winning with quality customers continues to yield good results with an industry beating ARPU at Rs 183. As India gets ready to launch 5G, we are well positioned to raise the bar on innovation. We are also confident of meeting the emerging needs of discerning customers looking for speed, coverage and latency. Our astute spectrum strategy over the last few years as we bolstered mid band spectrum is designed to deliver the best experience at the lowest total cost of ownership.? The Net Debt-EBITDA ratio (annualized) and including the impact of leases as on 30 June 2022 is at 2.52 times as compared to 3.03 times as on 30 June 2021. Airtel is a global communications solutions provider with over 497 million customers in 17 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its networks cover over two billion people. Airtel is Indias largest integrated communications solutions provider and the second largest mobile operator in Africa. Shares of Bharti Airtel were up 0.11% to settle at Rs 704.35 on the BSE. Powered by Capital Market – Live News