Bharti Airtel Q4 Results 2022 reported PAT at Rs.2008 Cr, rise of 164.4%

On 17th May 2022, Bharti Airtel announced its quarterly results for the last quarter of FY2022.

Key Highlights:

Q4FY22:

• The overall customer base stands at 491 million across 16 countries
• The company reported its total revenues at Rs.31,500 crore, up by 22.3% YoY  
• EBITDA was reported at Rs.15,998 crore, up by 27.1% YoY; EBITDA margin at 50.8%, with a growth of 192 bps YoY  
• EBIT was at Rs.7,315 crore, up by 44.9% YoY; EBIT margin at 23.2%, with an expansion of 362 bps YoY  
• Net Income (before exceptional items) for Q4FY22 was reported at Rs 1,860 crore  
• Net income after exceptional items (PAT) for Q4FY22 was reported at Rs 2,008 crore  
• Total Capex spend for the quarter of Rs.5,997 crore

FY2022:

• The consolidated revenues stood at Rs.116,547 crore, up by 20.2% 
• Consolidated EBITDA stood at Rs.58,110 crore and EBITDA margin at 49.9%, up by 400 bps YoY 
• Consolidated Net Income (before exceptional items) stood at Rs.3,528 crore for FY2022.
• Consolidated Net income after exceptional items (PAT) at Rs 4,255 crore

INDIA:

• Indian revenue stood at Rs 22,500 crore, with a growth of 22.7% YoY  
• EBITDA margin stood at 50.8%, up by 191 bps YoY. 
• EBIT margin at 18.8%, up by 368 bps YoY  
• The customer base stood at 360 million  
• Capex spend for the quarter at Rs.4,277 crore

AFRICA:

• Revenue (in constant currency) went up by 19.1% YoY
• EBITDA margin stood at 49.6%, up by 187 bps YoY, EBIT margin at 34.2%, up by 349 bps YoY  
• The Customer base stood at 128 million 
• Capex spend for the quarter was at Rs.1,682 crore

BUSINESS HIGHLIGHTS:

• Mobile revenues grew by 25.1% YoY on account of an increase in ARPU (Average Revenue Per User) led by healthy flow-through of tariff revision and strong 4G customer additions during the year. 
• ARPU for the quarter came in at Rs.178 as compared to Rs.145 in Q4FY21. This is an outcome of the company’s unrelenting focus on winning quality customers by delivering differentiated experiences.
• Bharti Airtel continues to gain a strong share of the 4G customers in the market and surpassed the +200 Million mark towards the end of Q4FY22. The company has added 21.5 Million 4G customers to its network over the last year, an increase by 12.0% YoY. 
• ARPU continues to be the best in the industry, with average data usage per data customer at 18.8 GBs/month and voice usage per customer at 1,083 mins /month. 
• Homes business segment continues its strong momentum with revenue growth of 45.8% YoY and customer net additions of ~323 K during the quarter to reach a total base of 4.5 Million. 
• LCO partnership model continues to play a pivotal role in the accelerated expansion, Bharti Airtel is now live in 761 cities through this model with overall operations in 847 cities Airtel Business continues to accelerate its momentum with 12.9% YoY growth, driven by rapidly increasing demand for data, connectivity-related solutions and CPaaS (Communication Platform as a Service). 
• The company has joined the SEA-ME-WE-6 undersea cable consortium to scale up its high-speed global network capacity to serve India’s fast-growing digital economy.
• Digital TV continues to hold its leadership position with a 17.6 Million customer base at the end of the quarter. 
• The Digital services offerings of Airtel continue to remain robust with a healthy engaged customer base of over 189 Million MAUs across its key digital assets – Thanks, Wynk, Xstream. 
• During Q4FY22, Airtel Payments Bank continued to expand its footing with a strong total customer base of over 129 Million and a highly engaged Monthly Transacting Users (MTU) base of ~37 Million. 
• Airtel paid an additional amount of Rs.8,815 crore towards part prepayment of deferred liabilities for spectrum acquired in 2015. It continues to focus on financial flexibility and optimizing capital structure and finance costs.

In a statement, Gopal Vittal, MD and CEO, India & South Asia, said: “This has been another quarter to cap a full year of consistent and competitive performance across our portfolio. Our consolidated revenues for the quarter grew by 5.5% and EBITDA margins expanded to 50.8%, underscoring our focus on all-round delivery. The mobile business revenues were up 9.5% as we saw the full flow-through of the tariff increase. Airtel continues to have the highest ARPU at Rs 178. Our Homes and enterprise business continue to exhibit very strong growth momentum, reflecting the resilience of our overall portfolio. Our strong balance sheet and cash flows have enabled us to further repay some of our spectrum liabilities ahead of schedule and improve our leverage. 

We continue to remain optimistic about the opportunities in the coming years and believe we are well poised as a company for three reasons. First, our ability to execute consistently to a simple strategy of winning with quality customers and delivering the best experience to them. Second, our future-proofed business model with massive investments in both infrastructure and digital capabilities. Finally, our financial prudence backed by our strong governance focus.”