Bharti Airtel Q4 results: Net profit nearly doubles to Rs 3,005.6 crore, beats analysts' estimates; ARPU at Rs 193
Bharti Airtel Q4 results: Bharti Airtel reported a quarterly net profit on Tuesday that far exceeded analysts' estimates. The telecom giant's board recommended a final dividend of Rs 4 per share for the financial year 2022-23.
Bharti Airtel Q4 results, dividend: Bharti Airtel — a major private sector operator in India’s highly competitive telecom space — on Friday reported a net profit of Rs 3,005.6 crore for the quarter ended March 2023, beating analysts' estimates. The telecom major's net profit marked a sequential increase of 89.2 per cent.
Its revenue growth stood at 0.6 per cent to Rs 36,009 crore for the three-month period on a quarter-on-quarter basis, according to a regulatory filing.
According to Zee Business research, Bharti Airtel's quarterly net profit was estimated at Rs 2,250 crore and revenue at Rs 36,100 crore.
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Bharti Airtel reported Rs 18,807 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA) as against Rs 18,601 crore for the previous quarter.
The telecom major said its average revenue per user (ARPU) stood at Rs 193, marking an increase of Rs 15 or 8.4 per cent on a year-on-year basis. ARPU is a key measure of a telecom operator’s profitability that determines the amount of money earned per subscriber.
“This has been another strong quarter as we end the fiscal year having further strengthened our portfolio... Our focus on acquiring quality customers has resulted in 7.4 million new 4G customers, as we exit the quarter with an industry leading ARPU," said Gopal Vittal, Managing Director and CEO, Bharti Airtel.
Zee Business analysts had pegged the telecom operator's ARPU at Rs 197.
"A simple strategy and our relentless focus on execution has ensured that we close the year with market share gains across all businesses," he said.
Bharti Airtel said its quarterly revenue from its India operations increased 12.2 per cent on a year-on-year basis to Rs 25,250 crore. Africa revenue grew 18.6 per cent in constant currency terms.
The company's 4G data customers increased by 7.4 million in the March quarter compared with the previous three months, translating to 67 per cent of its overall mobile customer base, according to a company statement.
Consumption of mobile data stood at 20.3 GB per customer per month, Bharti Airtel said.
Bharti Airtel said it will continue to ramp up its 5G roll-out, and expects to connect all major regions by the end of the year.
Bharti Airtel shares finished a volatile session on Dalal Street weaker by Rs 10.1 or 1.3 per cent at Rs 787.9 apiece on BSE ahead of the earnings announcement. Read more on how the stock market fared on May 16
Bharti Airtel dividend
Bharti Airtel's board recommended a dividend of Rs 4 per share — an 80 per cent payout given the face value of Rs 5 per share. Read more on Bharti Airtel dividend
Bharti Airtel shares: Historical performance
As of May 15, Bharti Airtel shares have grown nearly 15 per cent in value in one year, in line with a 16 per cent rise in the headline Nifty 50 index.