Bharti Airtel Ltd, a telecom company, showcased robust financial performance in the quarter ending December 31, 2023, with a significant surge in consolidated net profit. The combined net profit experienced a 54 percent increase, reaching Rs 2,442 crore, compared to Rs 1,588 crore reported in the corresponding period last year.
The firm’s overall revenue from operations witnessed a 6 percent increase, climbing to Rs 37,900 crore during Q3FY24, up from Rs 35,804 crore in Q3FY23. It’s worth noting that the revenue growth was somewhat impacted by currency devaluation in Africa.
Average Revenue Per User (ARPU) experienced a modest rise, reaching Rs 208 in Q3FY24, compared to Rs 203 in the previous quarter (Q2FY24). Despite the positive financial results, Airtel’s scrip on BSE saw a 3 percent dip, closing at Rs 1,113.1 on Monday.
The company highlighted a reduction in consolidated net debt (excluding lease obligations) to Rs 1.42 lakh crore in Q3FY24, down from Rs 1.54 lakh crore in the same period the previous year.
In terms of India revenue, Airtel recorded 11.4 percent YoY growth, amounting to Rs 27,811 crore during Q3FY24. Airtel’s customer base increased by 4 percent YoY, with 34.56 crore customers as of December 31, 2023, compared to 33.22 crore in the corresponding quarter of the previous year. The 4G/5G data customer base reached 24.5 crore, witnessing an increase of 74 lakh QoQ and 2.82 crore YoY.
Expenses saw a 4.23 percent rise to Rs 18,085 crore, attributed to increased spending on spectrum charges, marketing, and network operations. Tax expenses also rose nearly 15 percent to Rs 1,232 crore.
A one-time charge of Rs 130 crore was reported by Airtel, linked to a foreign exchange net loss due to currency devaluation in its group subsidiaries.
In the previous month, Jio ended a four-quarter trend of declining profit growth, boosted by an increase in subscribers.
Bharti Airtel Q3 Financial Results FAQs
What is the key highlight of Bharti Airtel’s financial performance in Q3FY24?
Bharti Airtel experienced a 54 percent increase in consolidated net profit, reaching Rs 2,442 crore.
How did the overall revenue from operations change for Bharti Airtel in Q3FY24?
The overall revenue from operations witnessed a 6 percent increase, climbing to Rs 37,900 crore.
What impacted the revenue growth for Bharti Airtel during this quarter?
The revenue growth was somewhat affected by currency devaluation in Africa.
What was the Average Revenue Per User (ARPU) in Q3FY24?
ARPU experienced a modest rise, reaching Rs 208 in Q3FY24.
How did the stock perform on BSE after the financial results were announced?
Despite positive results, Airtel’s scrip on BSE saw a 3 percent dip, closing at Rs 1,113.1.
What is the status of Bharti Airtel’s consolidated net debt in Q3FY24?
The consolidated net debt (excluding lease obligations) reduced to Rs 1.42 lakh crore, down from Rs 1.54 lakh crore.
How much was the YoY growth in India revenue for Bharti Airtel in Q3FY24?
Airtel recorded 11.4 percent YoY growth in India revenue, amounting to Rs 27,811 crore.
What is the total customer base of Bharti Airtel as of December 31, 2023?
Airtel’s customer base increased by 4 percent YoY, with 34.56 crore customers.
How did the 4G/5G data customer base change in Q3FY24?
The 4G/5G data customer base reached 24.5 crore, witnessing an increase of 74 lakh QoQ and 2.82 crore YoY.
What were the key factors contributing to the rise in expenses for Bharti Airtel in Q3FY24?
Expenses saw a 4.23 percent rise to Rs 18,085 crore, attributed to increased spending on spectrum charges, marketing, and network operations.
What one-time charge was reported by Airtel in Q3FY24, and why?
A one-time charge of Rs 130 crore was reported, linked to a foreign exchange net loss due to currency devaluation in group subsidiaries.
How did Airtel’s financial performance compare with Jio in the previous month?
In the previous month, Jio ended a four-quarter trend of declining profit growth, boosted by an increase in subscribers.
