Airtel Q4 result: KNOW what CLSA, CITI and UBS have to say about the road ahead for share price
Despite weak results in the fourth quarter, the brokerage firms are bullish on the telecom major Bharti Airtel. The company’s consolidated net profit declined by 11 per cent a quarter-on-quarter basis to Rs 759 crore in the March-ended quarter for the financial year 2020-2021.
Despite weak results in the fourth quarter, the brokerage firms are bullish on the telecom major Bharti Airtel. The company’s consolidated net profit declined by 11 per cent a quarter-on-quarter basis to Rs 759 crore in the March-ended quarter for the financial year 2020-2021.
The company’s revenue from operations dipped 3 per cent on a sequential basis to Rs 25,747 crore for the March quarter as compared to Rs 26,517 crore in the December-ended quarter for FY21.
Bharti Airtel Q4 overall in-line, but India mobile EBITDA a shade below estimates, says Citi. The brokerage firm adjusted pre-tax profit of Rs 1580 crore ahead of estimates, moreover, profit boosted by Rs 440 crore of net exceptional gains. Citi maintains a Buy stance, sets a target of Rs 685 apiece.
CLSA continues to have Buy call on Bharti Airtel with a target of Rs 730 per share. The brokerage firm gained more-than-expected 4G data subscribers, ARPU (Average Revenue Per Unit), Net of IUC, although was down 0.8 per cent QoQ, but up 7.4 per cent YoY. The 4G penetration of 56 per cent of its own subscribers assures growth, CLSA mentions.
The mobile ARPU saw a dip on a quarter-on-quarter basis during the March quarter to Rs 145 in Q4 as compared to Rs 166 in Q3 FY21.
Similarly, UBS maintains Buy call on Bharti Airtel and sets a target of Rs 655 per share. It said, a healthy set of results, with the company outperforming Jio on most metrics, adding further, the impact of covid on subscriber Adds and ARPUs are key monitorable going ahead.
The revenues from India business were up 9.6 per cent year-on-year at Rs 18,338 crore. Meanwhile, revenues from mobile services rose 19.1 per cent YoY, led by strong customer additions.
Bharti Airtel declined most during Tuesday’s trade, it shed over two per cent to Rs 537 per share as compared to the previous close of Rs 550 per share.
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