Bharti Airtel Q4 net profit plunges 31% to Rs 2,072 crore

Telecom service provider Bharti Airtel has reported a consolidated net profit of Rs 2,072 crore for the March quarter of the financial year 2023-24, down by 31.1% against the previous year.

The consolidated Q4 revenue is at Rs 37,599 crore, up 4.4 percent from the previous year, impacted by the devaluation of African currencies during the period, particularly Nigerian Naira, as per the exchange filing.

The revenue for Q4FY24 is at Rs 28,513 crore, increased by 12.9% YoY. Mobile revenue grew by 12.9% YoY on account of improved realisation as well as strong 4G/5G customer additions during the year.

 

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Consolidated mobile data traffic was at 17,702 PBs in the quarter with a healthy YoY growth of 26.2%.

"Our focus on digitization and acquiring high-value customers led to 331 K customer additions in the quarter to reach a total base of 7.6 Mn. We continue to accelerate our home pass rollout on the back of asset-light local cable operator partnership model, we are now live in 1290 cities," the telco said.

The Telcom company stated that it had rolled out over 7.8 million smartphone customers and delivered an industry-leading ARPU of Rs 209 compared to Rs 193 in Q4FY23, driven by a sustained focus on acquiring quality customers and mix improvement.

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Airtel's consolidated EBITDA witnessed an increase of 4.2% YoY to Rs 19,590 crore in Q4’24. EBITDA margin is 52.1% in Q4 FY24 vs 52.2% in Q4 FY23. EBITDA margins across businesses remained healthy, with India's EBITDA margins improving from 53.1% in Q4 FY23 to 53.6% in Q4 FY24.

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