Telecom operator Bharti Airtel reported its fiscal third quarter net profit of Rs 1,588 crore missing analyst expectations. However, the profit almost doubled on-year, at 91% growth. CNBC TV 18 poll of analysts predicted net profit of Rs 2,220 crore. It reported revenue for the quarter ending December of Rs 35,804 crore, jumping 20% on-year. The company also reported an India mobile average revenue per user (ARPU) of Rs 193.
Bharti Airtel India’s revenue for the quarter ended December was up 19.4% at Rs 20,912 crore. Consolidated net revenues, after netting off access costs, license fees and cost of goods sold, stood at Rs 30,204.8 crore, up 22.1%. The telecommunications giant’s consolidated EBITDA was Rs 18,600 crore, higher by 24.8% on-year and up 5% from the previous quarter. The company also reported Capex for the quarter at Rs 9,314 crore.
Operational Indicators in Q3FY23:
- 4G data customers up by 21.2 million on-year & 6.4 million QoQ, 65% of overall mobile customer base
- Mobile ARPU increased to Rs 193 in Q3FY23 vs Rs 163 in Q3FY22
- Mobile data consumption up by 22.5% on-year, consumption per customer at 20.3 GB per month
Bharti Airtel’s overall customer base grew to 51,080 crore users, up 5.8% from last year’s 48,265 crore. The India segment of the company reported an annual growth of 4.3% with 36,928 crore users recorded until 31 December, 2022. The company also paid an exceptional charge of Rs 669.8 crore during the quarter on account of provision for license fee related to earlier periods in one of the Group’s wholly-owned subsidiaries, the firm mentioned in a report.
Gopal Vittal, MD, Bharti Airtel said, ”Our 5G rollout is on track to cover all towns and key rural areas by March 2024,” commenting on the operator’s forward-looking plans for the much-awaited 5G rollout. Airtel announced the advent of its 5G services in Delhi, Mumbai, Chennai, and other cities in a phased manner as the company continues to construct its network and complete the roll out, the report added. Prior to the result, the scrip price fluctuated between red and green amid heightened volatility on Tuesday, closing 0.37% down at Rs 786.35.