Bharti Airtel has announced its audited consolidated financial results for the first quarter ended (QE) June 30, 2023. The quarterly revenues for the reported quarter stood at Rs 374.4 billion – up 14.1 per cent year-on-year (YoY), backed by strong and consistent performance delivery across the portfolio. Consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) at Rs 197.46 billion while the EBITDA margin was 52.7 per cent, an improvement of 212 bps YoY. The company’s consolidated net income (before exceptional items) at Rs 29.02 billion, up by 91.3 per cent YoY.
With regard to its India business, the telco’s revenues for the reported quarter stood at Rs 263.75 billion – up 13.1 per cent YoY. Mobile services revenues grew by 12.4 per cent YoY, led by continued 4G customer addition and an increase in average revenue per user (ARPU). The EBITDA during the period was Rs 141.54 billion, and the EBITDA margin was 53.7 per cent, up 271 bps YoY. Mobile ARPU increased to Rs 200 from Rs 183 in Q1 FY23.
Airtel became the first service provider to democratise access to blazing-fast 5G speeds to customers travelling on India’s first water metro service in Kochi. The company also launched unlimited 5G for its customers with a view to encouraging them to experience the power of the Airtel 5G network.
The telco strengthened its leadership position in the postpaid segment with the highest-ever net addition of 0.8 million in Q1 FY24 thereby reaching a customer base of 40.4 million (including internet of things). Airtel business became India’s first enterprise to power over 20 million connected devices. The company continues to garner strong share of 4G customers in the market and added 24.5 million 4G data customers to its network over last year, an increase of 11.9 per cent YoY. It also continues to deliver industry-leading ARPU along with growing average data usage per data customer at 21.1 GBs/month
Commenting on the results, Gopal Vittal, managing director and chief executive officer, Airtel, said, “We have delivered yet another quarter of strong and competitive growth across all our businesses. Our consolidated revenue grew sequentially by 4 per cent, and EBITDA margin expanded to 52.7 per cent, underscoring the simplicity and execution of our strategy. Our focus on winning quality customers and driving premiumisation has helped us add 5.6 million new 4G customers and the highest-ever postpaid customers in any one quarter. We exit the quarter with an industry-leading ARPU of Rs 200. Homes, enterprises and our digital businesses continue to exhibit strong growth momentum, reflecting the resilience and strength of our overall portfolio. We continue to make strides on our ESG agenda and in leading the charter in India for sustainable practices.”
