Bharti Airtel Q2 Results FY2023, Net Profit at Rs. 2145 crores
On 31st October 2022, Bharti Airtel announced its second quarter results for the period ending 30th September 2022.
Q2FY23 Performance updates:
- Bharti Airtel posts quarterly revenues of Rs 34,527 crore, up by 21.9% YoY, backed by strong and consistent performance delivery across the portfolio and crossing 500 Mn customers globally
- Consolidated EBITDA at Rs 17,721 crore; EBITDA margin at 51.3%
- Consolidated EBIT at Rs 8,762 crore; EBIT margin at 25.4%
- Consolidated PAT at Rs 2,145 crore; up by 89.1% YoY
- India business posts quarterly revenues of Rs 24,333 crore, up by 22.3% YoY
- Mobile services India revenues are up by 24.8% YoY, led by continued 4G customer addition and an increase in ARPU
- Airtel Business revenues went up by 16.8% YoY, backed by robust demand for data and connectivity-related solutions as well as emerging adjacencies
- Homes business continues to accelerate growth momentum, up 38.9% YoY led by strong customer additions
- Digital TV continues to strengthen its market share
- 4G data customers up by 17.8 Million YoY & 5.0 Million QoQ, 64% of the overall mobile customer base
- Mobile ARPU increased to Rs. 190 in Q2FY23 vs Rs 153 in Q2FY22
- Mobile data consumption up by 19.6% YoY, consumption per customer at 20.3 GB per month - Homes business crossed 5 Million customer Milestone with 417 K customer net additions in Q2FY23
- Digital TV customer base at 15.8 Million in Q2FY23, holding steady vs Q1FY23
- Airtel Payments Bank continues to grow rapidly through customer engagement – increases monthly transacting users by 60% YoY
- Airtel 5G Plus goes live with the launch in 8 cities, all of the urban and key rural areas to be covered by March 2024
- Airtel pays Rs. 8,312 crores for 5G spectrum to DOT for 4 years - settled ahead of schedule to free up cash flow for 5G rollout
Commenting on the results, Gopal Vittal, MD and CEO, of India & South Asia, said: “We have delivered yet another quarter with competitive revenue growth and improved margins. Our consolidated revenue grew sequentially by 5.3% and EBITDA margin expanded to 51.3%. The consistency of our execution is driven by the strength and resilience of our portfolio. Our B2B and Homes business continued their strong growth momentum while Mobile ARPU expanded to 190 on the back of premiumization and deep customer understanding. We are now rolling out 5G and are confident that Airtel 5G Plus will deliver the best experience in India while being kinder to the environment. I do believe that 5G technology has the potential of bringing tremendous innovation into India. At the same time we remain concerned about the low ROCE that our business delivers due to pricing that is the lowest in the world. Given the large investments required to drive digital adoption in India we believe there is a need for tariff correction.”
Bharti airtel share price dropped by 0.25%.
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