Bharti Airtel Q3 FY24 Financial Results Overview
Consolidated Net Profit Surges 54% to Rs 2,442 Crore:
Bharti Airtel Ltd reported a robust financial performance for Q3 FY24, with a 54% YoY increase in consolidated net profit, reaching Rs 2,442 crore compared to Rs 1,588 crore in the same period last year.
Revenue from Operations Rises 6%:
Consolidated revenue from operations witnessed a 6% growth, reaching Rs 37,900 crore in Q3 FY24, up from Rs 35,804 crore in Q3 FY23. The revenue growth was partially impacted by currency devaluation in Africa, according to the company.
ARPU Marginally Increases to Rs 208:
The Average Revenue Per User (ARPU) showed a marginal improvement, rising to Rs 208 in Q3 FY24 compared to Rs 203 in the previous quarter (Q2 FY24).
Stock Performance:
Airtel’s scrip on BSE closed 3% lower at Rs 1,113.1 on the day of the announcement.
Net Debt Reduction:
The company reported a reduction in consolidated net debt (excluding lease obligations) to Rs 1.42 lakh crore in Q3 FY24, down from Rs 1.54 lakh crore in the same period last year.
India Revenue Growth:
Airtel’s India revenue experienced significant growth, rising by 11.4% YoY to Rs 27,811 crore during Q3 FY24.
Customer Base and Data Users Increase:
The total customer base increased to 34.56 crore as of December 31, 2023, compared to 33.22 crore in the corresponding quarter last year, marking a 4% YoY growth. The 4G/5G data customer base stood at 24.5 crore, indicating an increase of 74 lakh QoQ and 2.82 crore YoY.
Expenses and Taxation:
Expenses rose by 4.23% to Rs 18,085 crore, attributed to increased spending on spectrum charges, marketing, and network operations. Tax expenses also saw a nearly 15% rise to Rs 1,232 crore.
One-time Charge:
Airtel reported a one-time charge of Rs 130 crore, attributed to a foreign exchange net loss due to currency devaluation in its group subsidiaries.
These results showcase Bharti Airtel’s positive financial trajectory, driven by growth in revenue, ARPU, and a reduction in net debt, despite certain challenges in currency devaluation and increased expenses. Investors may closely monitor the company’s strategic initiatives in response to market dynamics.
