Bharti Airtel’s net income at Rs 610 crore, up 115 percent

Bharti Airtel’s consolidated net income is at Rs 610 crore, as against Rs 284 crore in the corresponding quarter last year.

Bharti Airtel today announced its audited consolidated IFRS results for the quarter ended December 31, 2013. The consolidated revenues for Q3’14 is at Rs 21,939 crore, a grpwth of 13.3 percent over the corresponding quarter last year.

Consolidated mobile internet revenues at Rs 1,736 crore grew by 105.2 percent Y-o-Y, accounting for more than one-third of the overall incremental revenue.

India registered a revenue growth of 10.3 percent Y-o-Y with strong contribution from all segments. Mobile voice realisation in India improved by 1.96p on a Y-o-Y basis and minutes grew by 5.9 percent Y-o-Y.

Data customer base increased by 31.2 percent to 54.4 million customers and coupled with 54.4 percent increase in usage per customer, this led to 97 percent increase in total data traffic. Mobile ARPU has increased by Rs 9.7 to Rs 195. DTH revenue grew by 25.8 percent and airtel business grew by 13.9 percent Y-o-Y.

International revenues grew by 18.5 percent Y-o-Y in Rupee terms with Africa growing by 17.2 percent and South Asia by 44.8 percent. Net Revenue in Africa (after interconnect costs and cost of goods sold) has grown by 21.6 percent Y-o-Y in rupee terms.

Africa revenue in USD terms grew by 4.1 percent on sequential quarter basis led by a strong 16.8 percent increase in data revenues. Mobile voice pricing in Africa remained stable at 3.31 cents per minute and overall ARPU improved to $5.8.

Consolidated EBITDA at Rs 7,093 crore grew by 22.8 percent Y-o-Y, with margin expanding to 32.3 percent from 29.8 percent from the corresponding quarter last year led by improved operational performance in India, which expanded EBITDA margin by 4.4 percent Y-o-Y. The resultant consolidated EBIT of Rs 3,175 crore represents a Y-o-Y growth of 55.6 percent, with a 3.9 percent improvement in EBIT margin.

Consolidated Operating Free Cash Flows for the quarter at Rs 4,271 crore grew by 19.9 percent Y-o-Y. The company’s consolidated net debt has reduced to $9,313 million resulting in the Net Debt to EBITDA ratio (LTM) improving to 2.06 times as compared to 2.20 times at the end of the previous quarter.

Gopal Vittal, JMD and CEO, India Operations, Bharti Airtel said, “Our efforts over the last 12 months to improve the quality of customer acquisitions have resulted in significant reduction in customer churn. Our focus on superior internet experience has resulted in increased data adoption and usage. Data is now a huge source of revenue growth.”

Manoj Kohli, MD and CEO, International Operations, Bharti Airtel said, “The International operations continued to achieve steady revenue growth. Africa had another quarter of strong growth from the 3G/Data and Airtel Money services across all its markets and we expect this trend to sustain due to large investments in brand & network. The market growth came back in Nigeria which is the largest telecom market in the continent.”

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