BackBharti Airtel Q3 results: Net profit jumps 91% to ₹1,588 cr; ARPU rises to ₹193
Bharti Airtel Q3 Update: 'Postpaid, Enterprise, Homes as well as our Africa business sustained their momentum while the DTH business showed signs of growth in an industry that continues to be under pressure, says Bharti Airtel MD, Gopal Vittal
PremiumTelecom major Bharti Airtel's consolidated net profit surged 91% to ₹1,588.2 crore for the third quarter ended 31 December, 2022. It was ₹829.6 crore in the year-ago period. The mobile average revenue per user (ARPU) per month increased to ₹193 in Q3FY23 as against ₹163 in Q3FY22.
On a sequential basis, the topline grew 3.7%, while the bottomline dropped by a sharp 47%.
The telecom firm's revenue from operations rose 20% to ₹35,804 crore during the period under review as against ₹29,866 crore in corresponding of last year.
Airtel has posted a lower net profit than the average estimate of around ₹2,673 crore. However, revenue was higher than the estimated ₹35,299 crore.
Meanwhile, consolidated operating profit, calculated as EBITDA or earnings before interest, taxes, depreciation, and amortisation came in at ₹18,601 crore, with the operating margin improving 205 basis points on-year to 52%.
The India business posted a quarterly revenue of ₹s 24,962 crore, up 19.4% on-year. The mobile services India revenues were up 20.8% YoY, driven by continued 4G customer addition and increase in ARPU.
Bharti Airtel MD, Gopal Vittal said: "We have delivered another quarter of consistent and competitive growth across all our businesses. Revenue grew sequentially by 3.7%, while EBITDA margin expanded to 52.0%. Our strategy of winning quality customers has helped us add 6.4 Mn 4G customers and exit the quarter with an industry leading ARPU of ₹193."
"Postpaid, Enterprise, Homes as well as our Africa business sustained their momentum while the DTH business showed signs of growth in an industry that continues to be under pressure. Our overall performance is testimony to the breadth and diversity of our portfolio that spans across both geographies as well as businesses. Our 5G rollout is on track to cover all towns and key rural areas by March 2024," Vittal said.
The telecom major's India customer base stood at 369 million as of December. At the consolidated level, the total customer base was around 511 million.
On Tuesday, ahead of the results, Airtel scrip closed 0.37% lower at ₹786.35 on NSE.
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