Friday, February 10, 2023

Bharti Airtel's net profit in the third quarter increased by 92% to Rs 1,588 crore

 Delhi, India: Bharti Airtel, a telecom provider, reported on Tuesday that its consolidated net profit for the three months ending December 2022 increased by 91.5% year-over-year to Rs 1,588 crore as a result of competitive growth across businesses.

In a statement, the company said that in the third quarter of the current fiscal year, total revenue increased by nearly 20% to Rs 35,804 crore "backed by strong and consistent performance delivery across the portfolio."

For the most recent quarter, its consolidated net income (after exceptional items) was Rs 1,588 crore, an increase of 91.5% year-over-year.

Before exceptional items, the consolidated net income was Rs 1,994 crore, an increase of 147% from the previous year.

Gopal Vittal, the managing director of Bharti Airtel, stated that the business experienced consistent and competitive growth for the fourth quarter.

"EBITDA margin increased to 52% while revenue increased sequentially by 3.7%. "We ended the quarter with an industry-leading ARPU (Average Revenue Per User) of Rs 193, thanks to our strategy of acquiring high-quality customers," Vittal stated.

In the December quarter of 2022, Bharti Airtel's revenue in India increased by 19% to Rs 24,961.5 crore, up from Rs 20,912.7 crore a year earlier.

In the most recent December quarter, the company's total capital expenditures increased by 52% to Rs 9,313.6 crore, up from Rs 6,101.5 crore in the same period a year earlier. The introduction of the 5G network in India was primarily to blame for the rise.

The company's capital expenditures in India increased by 74% to Rs 8,095.4 crore in the December quarter of 2022, up from Rs 4,653.8 crore a year earlier.

Vittal claims that the company's operating free cash flow decreased by 12% to Rs 5,071.1 crore as a result of the increased capital expenditures.

The top executive stated that the telco's 5G rollout is on track to cover all towns and important rural areas by March 2024.

The company claims that India Mobile ARPU increased to Rs 193 during the reporting quarter from Rs 163 in the December 2021 quarter.

ARPU of Rs 190 had been reported by the business for the September quarter of 2022.

Vittal stated that the DTH business showed signs of growth in an industry that is still under pressure, while the postpaid, enterprise, homes, and Africa businesses maintained their momentum.

There were 36.92 crore customers in India, representing a 5.8% increase in the company's global customer base.

Bharti Airtel's mobile subscriber base in India increased by 2.9% year-over-year to 33.22 crore, with 1.8 crore postpaid customers included.

The number of people using 4G data increased by 10.8% to 21.67 crore, and monthly data usage per customer on the Airtel network increased by 11% to 20.29 GB from 18 GB.

In the most recent December quarter, Airtel Africa's net income increased by 22.17 percent to Rs 788 crore. The same amount stood at Rs 645 crore a year ago.

Africa's revenue increased by approximately 22% to Rs 11,087.6 crore in the current fiscal third quarter, up from Rs 9,105.3 crore in the December 2021 quarter.

The company's net debt increased by nearly 32% to Rs 2.09 lakh crore at the end of the December quarter of 2022, up from Rs 1.59 lakh crore a year earlier.

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