Q2 Result: Telecom service provider Bharti Airtel on Monday posted an 89.1 per cent jump in its consolidated net profit to Rs 2,145 crore for the September 2022 quarter (Q2FY23), compared with Rs 1,134 crore in the year-ago period. Its revenue from operations rises 21.9 per cent year-on-year (YoY) to Rs 34,527 crore during July-September 2022.
On a quarterly basis, Airtel’s net profit increased about 33.5 per cent during the July-September 2022 period. Its revenue on a quarterly basis rose 5.24 per cent, compared with Rs 32,804.6 in the June 2022 quarter.
Its average revenue per user (ARPU) during the second quarter of the current financial year 2022-23 rose to Rs 190, compared with Rs 183 in the previous quarter, Airtel said in a statement on Monday.
“We strengthened our leadership position in the postpaid segment with a customer base of 31.6 million (including internet of things). We continue to gain a strong share of the 4G customers in the market and added 17.8 million 4G data customers to our network over last year, an increase of 9.2 per cent YoY. ARPU continues to be the best in the industry, average data usage per data customer at 20.3 GBs/month and voice usage per customer at 1,082 mins /month,” Airtel said in the statement.
Airtel’s consolidated Ebitda (earnings before interest, taxes, depreciation and amortisation) during the September 2022 quarter rose 6.7 per cent quarter-on-quarter and 26.4 per cent year-on-year to Rs 17,721 crore. Its operating margin improved to 51.3 per cent, compared with 50.6 per cent in the previous quarter.
Airtel’s India revenue for Q2FY23 stood at Rs 24,333.3 crore, a jump of 22.3 per cent as compared with Rs 19,890.4 crore a year ago.
Its overall capital expenditure (capex) during the September 2022 quarter was Rs 7,046.9 crore.
Airtel’s homes business segment continues its strong momentum and delivers a revenue growth of 38.9 per cent YoY, an outcome of continued acceleration on the back of growing need for reliable and consistent broadband in India.
The revenue of its digital TV remained stable with customer base of 15.8 million at the end of the quarter. Its DTH business is showing early green
shoots of recovery as an outcome of our strategy of simplifying pricing and offering converged propositions to win high-value customers.
“By the end of the quarter, the company had 253,998 network towers as compared to 222,812 network towers in the corresponding quarter last year. The company had total 7,87,498 mobile broadband base stations as compared to 7,17,534 mobile broadband base stations at the end of the corresponding quarter last year and 7,66,673 at the end of the previous quarter,” Bharti Airtel said in the statement.
Gopal Vittal, MD and CEO (India and South Asia) of Bharti Airtel, said, “We have delivered yet another quarter with competitive revenue growth and improved margins. Our consolidated revenue grew sequentially by 5.3 per cent and Ebitda margin expanded to 51.3 per cent. The consistency of our execution is driven by the strength and resilience of our portfolio. Our B2B and homes business continued their strong growth momentum while mobile ARPU expanded to 190 on the back of premiumisation and deep customer understanding.”
He added that the company is now rolling out 5G and is confident that Airtel 5G Plus will deliver the best experience in India while being kinder to the environment.
“I do believe that 5G technology has the potential of bringing tremendous innovation into India. At the same time we remain concerned about the low ROCE that our business delivers due to pricing that is the lowest in the world. Given the large investments required to drive digital adoption in India we believe there is a need for tariff correction,” Vittal said.
Bharti Airtel’s shares on Monday rose 1.86 per cent, or Rs 15.20, to close at Rs 832 apiece on the BSE.
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