Telecom giant Bharti Airtel on Tuesday logged a record 91 per cent rise in consolidated net income for the quarter ended on December 31, 2022 (Q3), to Rs 1,588 crore compared to Rs 830 crore a year ago. According to the company’s filing with the BSE, Airtel’s revenues for the quarter stood at Rs 35,804 crore – up 19.9 per cent year on year. Revenue grew by 4 per cent compared to the previous quarter.
In the third quarter, Airtel’s India business posts quarterly revenues of Rs 24,962 crore – up 19.4 per cent year on year. It was backed by consolidated mobile data traffic which was up 23.7 per cent year on year.
The firm also reported an increase in voice traffic by 5 per cent and the customer base was at 51.1 crores across 16 countries, up 5 per cent year on year. In India, the customer base stood at 36.9 crores during the quarter.
During the quarter, consolidated EBITDA was at Rs 18,601 crore, up 25 per cent year on year and 5 per cent quarter on quarter. EBITDA margin for the quarter was at 52.0 per cent as against 49.9 per cent in the corresponding quarter last year. Bharti Airtel’s India average revenue per user (ARPU) per month was at Rs 193 during the quarter.
Bharti Airtel Managing Director Gopal Vittal said, “We have delivered another quarter of consistent and competitive growth across all our businesses. Revenue grew sequentially by 3.7 per cent, while EBITDA margin expanded to 52 per cent. Our strategy of winning quality customers has helped us add 6.4 million 4G customers and exit the quarter with an industry leading ARPU of Rs 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.”
Vittal also said that the 5G rollout is on track to cover all towns and key rural areas by March 2024.
Mobile services revenues for India were up 20.8 per cent year on year led by continued 4G customer addition and an increase in average revenue per user (ARPU). The company reported a Net Debt-EBITDA ratio (annualised) and including the impact of leases for the quarter at 2.82 times as compared to 2.96 times in the previous quarter.
The company said, “We continue to optimize the capital structure by judiciously allocating capital across our business to strengthen the balance sheet.”