Bharti Airtel Q1 revenue at Rs 20,264 cr, up 9.2%

Bharti Airtel registered Q1 revenue of Rs 20,264 crore, up 9.2 percent over corresponding period last year to reach Rs 20,264 crore.

The increase in revenue can be atributed to 10.9 percent growth in mobile, 34 percent in Digital TV, 17.9 percent in airtel business and 37.1 percent in South Asia. Mobile data continues its growth trajectory with revenue up Y-o-Y by 91.5 percent in India and 65.8 percent in Africa.

Mobile revenues in India grew on the back of ARPU moving to Rs 200 in Q1‟14, up by Rs 16 over corresponding period last year. The voice rate increase (up from 35.68p last year to 36.39p) coupled with higher usage per customer (up from 433 minutes last year to 455) has enabled this improvement in ARPU.

International revenues comprising of Africa and South Asia operations grew by 4.6 percent to reach Rs 6,322 crore. Mobile termination rates were revised downward in several key countries in Africa, including Nigeria. Net revenue in Africa, after netting off interconnect costs and cost of goods sold, has grown by 8.9 percent Y-o-Y.

Consolidated EBITDA at Rs 6,545 crore reports a growth of 19.3 percent Y-o-Y with margin expanding to 32.3 percent from 29.6 percent in corresponding period last year. India EBITDA margin improved from 31.9 percent last year to 34.9 percent, while international margins improved from 24 percent to 25.4 percent.

Net income was Rs 689 crore, down 10 percent over corresponding period last year.

Consequent to the additional equity infusion of Rs 6,796 crore by Qatar Foundation Endowment and after considering the full debt in the Qualcomm subsidiaries, the consolidated net debt has decreased by $908 mn during the quarter to close at $9,779 mn. The net debt to EBITDA ratio (USD terms) now stands at 2.21 as compared to 2.50 at the end of the previous quarter.

In a statement Sunil Bharti Mittal, chairman, Bharti Airtel said, “Our results for the quarter reflect the overall stability of our operations, and demonstrate the potential for growth, particularly seeing robust data growth across all geographies. Results for Airtel India reflect rationality returning to the sector which needs to be complemented by a more enabling regulatory environment for a deeper penetration of telecom and broadband services.”

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