Net profit falls 3%; ARPU improves to ₹163
Telecom major Bharti Airtel Ltd consolidated net profit surged 22% to ₹1,650 crore for the third quarter ended 31 December, 2021. It was ₹1,350 crore in the year-ago period.
However, the profit attributable to the owners, fell 3% to ₹830 crore as against ₹853 crore reported in the last year period.
Revenue from operations rose 13% to ₹29,866 crore during the period under review as against ₹26,517 crore in corresponding of last year.
On Monday, ahead of the results, Airtel scrip closed flat at ₹706.95 on NSE.
The India business posted a quarterly revenue of ₹20,913 crore, up 18% year-on-year on comparable basis.
The mobile average revenue per user (ARPU) per month increased to ₹163 in during the third quarter as against ₹146 in same quarter last year on comparable basis.
“We have delivered another quarter of sustained performance across all our business segments. Overall sequential revenue growth was at 5.4% and EBITDA margins came in at 49.9%. The recent tariff revision for mobile services has gone down well and we are exiting the quarter with an industry leading ARPU of ₹163,” Airtel CEO Gopal Vittal said.
Mobile services India revenues were up 19.1% year-on-year on a comparable basis, led by increase in ARPU. The Airtel business revenues increased up by 13% year-on-year, backed by continued strong demand for data portfolio and emerging businesses.
The full impact of the revised mobile tariffs, however, will be visible in the fourth quarter. Our Enterprise, Homes and Africa business continue to deliver strongly, with steady increase in contribution to the overall mix of the portfolio. Our balance sheet is robust and we are now generating healthy free cash flows. This has enabled us to recently prepay some of our spectrum liabilities to the Government thereby reducing the interest burden, Vittal said.
Vittal said Google’s recent investment is a strong validation of Airtel’s role in being a leading pioneer of India’s digital revolution.
“Our emerging digital services portfolio across Airtel IQ, AdTech, digital market place, Nxtra and digital banking positions us well to build an Airtel of the future.”
Airtel said it continued to garner strong share of the 4G customers in the market. 4G data customers increased by 18% year-on-year to 195.5 million. It has added 29.9 million 4G customers to its network over last year.
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