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Bharti Airtel reports 31 per cent drop in consolidated profit in January-March quarter

'Consolidated performance was impacted primarily by the devaluation of the Nigerian Naira. We added 7.8 million smartphone customers and delivered an industry-leading ARPU of ₹209,' Bharti Airtel managing director Gopal Vittal said

PTI New Delhi Published 15.05.24, 11:37 AM
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Telecom operator Bharti Airtel on Tuesday posted a 31 per cent drop in consolidated profit to 2,072 crore in the March quarter mainly due to the devaluation of the Nigerian Naira. The company had registered a profit of 3,005.6 crore in the year-ago period.

The consolidated revenue from operations increased 4.4 per cent to 37,599.1 crore during the quarter from 36,009 crore a year earlier.

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“Consolidated performance was impacted primarily by the devaluation of the Nigerian Naira. We added 7.8 million smartphone customers and delivered an industry-leading ARPU of 209,” Bharti Airtel managing director Gopal Vittal said.

Airtel suffered a forex loss of 2,544.4 crore due to currency devaluation.

During the reported quarter, the company acquired a 97.12 per cent stake in Beetel Teletech for 658 crore.

For the year ended March 31, Airtel’s profit dropped 10.5 per cent to 7,467 crore.

The annual revenue from operations rose 7.7 per cent to 1,49,982.4 crore during the reported fiscal from 1,39,144.8 crore in 2022-23.

Bharti Airtel’s capital expenditure was 10,516 crore at the group level comprising 8,491 crore for India during the March 2024 quarter.

India revenue of Bharti Airtel increased 12.9 per cent on a year-on-year (YoY) basis to 28,513 crore on account of improved realisation as well as strong 4G and 5G customer additions during the year.

The customer base in India grew 5 per cent to 35.22 crore from 34.55 crore on a year-on-year basis.

Bharti Airtel’s average revenue per user (ARPU) grew 8 per cent to 209 from 193 a year ago. Sequentially, the ARPU was higher than 208 in the December quarter.

Hexacom

Bharti Hexacom on Tuesday posted an over 10 per cent year-on-year rise in net profit for the March quarter to 223 crore on the back of strong customer additions and ARPU increase in mobile services.

Total revenue stood at 1,868 crore, up 7.8 per cent over the corresponding period a year earlier.

For the full year ended March 31, the net income (after exceptional items) came in at 504 crore, which was 8.2 per cent lower than the previous fiscal year. Mobile services revenues were up 6.8 per cent year-on-year.

The board of the company also declared a final dividend of 4 per fully paid-up equity share of face value of 5 each.

PTI

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