Bharti Airtel Q3 Results: In its financial performance for the quarter ended December 31, 2023, telecom company Bharti Airtel Ltd. reported a sizable net profit.
Comparing the same period last year to this one, the consolidated net profit increased by 54% to Rs 2,442 crore from Rs 1,588 crore.
From Rs 35,804 crore in Q3FY23 to Rs 37,900 crore in Q3FY24, the company’s overall revenue from operations increased by 6%.
The business noted that the depreciation of African currencies had an impact on revenue growth.
After a slight increase, the average revenue per user (ARPU) was Rs 208 in Q3FY24 as opposed to Rs 203 in Q2FY24.
In spite of the favorable financial outcomes, Airtel’s BSE shares experienced a 3% decline, concluding at Rs 1,113.1 on Monday.
Consolidated net debt (excluding lease obligations) decreased to Rs 1.42 lakh crore in Q3FY24 from Rs 1.54 lakh crore in the same period the previous year, according to the company.
According to Bharti Airtel Q3 Results, Airtel’s revenue in India increased by 11.4 percent year over year in Q3FY24, to Rs 27,811 crore.
The number of Airtel customers climbed by 4% year over year, from 33.22 crore in the same quarter of the previous year to 34.56 crore as of December 31, 2023.
The number of 4G/5G data users has increased to 24.5 crore, up 2.82 crore year over year and 74 lakh QoQ.
Expenses increased 4.23 percent to Rs 18,085 crore, primarily due to higher marketing, network operations, and spectrum charges. Additionally, tax expenditures increased by almost 15% to Rs 1,232 crore.
Airtel announced a one-time charge of Rs 130 crore related to a foreign exchange net loss brought on by currency devaluation in its group companies.
The postpaid and home businesses saw a robust growth trajectory during the quarter, and our direct-to-home (DTH) business saw 388,000 net adds, the highest number in the previous 12 quarters. Gopal Vittal, managing director of Bharti Airtel, stated, “We are staying on course with our premiumization strategy, which helped us add 7.4 million 4G/5G customers and exit the quarter with an industry leading ARPU of Rs 208.”
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