Bharti Airtel share price gains over 3% on strong Q3 results

  • Bharti Airtel on Monday posted a consolidated net profit of 2,442.2 crore for the third quarter of FY24, registering a growth of 54% from the same quarter a year ago.

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Published6 Feb 2024, 09:48 AM IST
Bharti Airtel share price has gained over 8% in one month and more than 21% in the past three months. The stock has delivered over 44% returns in one year.
Bharti Airtel share price has gained over 8% in one month and more than 21% in the past three months. The stock has delivered over 44% returns in one year.

Bharti Airtel share price gained over 3% in early trade on Tuesday after the company reported strong Q3 results. Bharti Airtel shares rose as much as 3.03% to 1,147.55 apiece on the BSE.

Telecom major Bharti Airtel on Monday posted a consolidated net profit of 2,442.2 crore for the third quarter of FY24, registering a growth of 54% from the same quarter a year ago.

India’s second-largest telecom operator by subscribers posted revenue of 37,900 crore in Q3FY24, up 5.9% year-on-year (YoY), backed by a strong and consistent performance by India operations, which recorded quarterly revenue of 27,811 crore, up 11.4% YoY.

Read here: Airtel Q3 profit up 54.8% at 2,442 cr, Arpu rises 7.7%

However, a devaluation of African currencies impacted the company's consolidated numbers for the quarter.

Average revenue per user per month (ARPU) was at 208, up nearly 8% as compared to 193 in the same quarter last year, driven by ‘consistent strategy of acquiring high value customers and improved realisations.’

Consolidated EBITDA was at 20,044 crore, while EBITDA margin at 52.9% saw improvement of 94 bps YoY.

Also Read: Paytm share price extends slide, drops over 9% to a record low

“We remain on course with our strategy of premiumization that helped us add 7.4 million 4G/5G customers and exit the quarter with an industry leading ARPU of Rs. 208. Even at this ARPU, our return on capital employed however, continues to be low at 9.4 percent. To ensure industry health, tariff repair is extremely critical,” said Gopal Vittal, MD, Bharti Airtel.

Bharti Airtel share price has gained over 8% in one month and more than 21% in the past three months. The stock has delivered over 44% returns in one year.

At 9:45 am, Bharti Airtel share price was trading 2.35% higher at 1,139.95 apiece on the BSE.

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First Published:6 Feb 2024, 09:48 AM IST
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