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Bharti Airtel has announced its financial results for the second-quarter (Q2) of the financial year (FY) 2021-22. Airtel’s consolidated revenues for the quarter stood at Rs. 283.26 billion, recording a growth of 18.8 per cent year-on-year (Y-o-Y) on a comparable basis and 13.0 per cent Y-o-Y on a reported basis. Airtel India revenue for Q2 FY22 stood at Rs. 198.90 billion, recording 18.3 per cent growth Y-o-Y on a comparable basis and 10.4 per cent Y-o-Y on a reported basis. Mobile revenues increased by 20.3 per cent Y-o-Y on comparable basis on account of increase in average revenue per user (ARPU) and strong 4G customer addition. ARPU for the quarter was reported at Rs. 153 as compared to Rs. 143 in Q2’21 on comparable basis.

The company continues to gain a strong share of the 4G customers in the market. 4G data customers also increased by 26.1 per cent Y-o-Y to 192.5 million. Over the last 4 quarters, the company has added 39.9 million 4G customers to its network. Average data usage per data customer stood at 18.6 GB per month and voice usage per customer stood at 1,053 minutes per month. Further, consolidated mobile data traffic stood at 10,943 petabyte (PB), recording a growth of 47.8 per cent.

The company rolled out additional 3,500 towers and approximately 56 thousand mobile broadband base stations in the quarter. Several initiatives were also undertaken to improve network quality, leveraging digital tools to monitor and improve customer experience and scaling up voice over Wi-Fi (Vo-Wi-Fi) adoption to improve indoor experience. The company has over 33 million customers using Vo-Wi-Fi services. Homes business segment witnessed a revenue growth of 21.3 per cent Y-o-Y, with highest ever customer net additions of approximately 467 thousand during the quarter to reach to a total base of 3.8 million. The company continued to expand its offering at a fast pace to non-wired cities through local cable operator (LCO) model. The operator is offering services in 436 cities through this model, with overall operations in 523 cities. The company launched Airtel Black, a converged solution for the discerning, quality-seeking customer, who can now bundle two or more of Airtel services.

Airtel Business continued to accelerate its momentum with 11.5 per cent Y-o-Y growth, driven by demand for connectivity, connectivity related solutions and communication platform as a service (CPaaS) across global business and domestic businesses.

Meanwhile, digital TV witnessed a revenue growth of 5.7 per cent Y-o-Y and with 18 million customer base at the end of quarter. Further, Airtel Payments Bank turned profitable with a strong total customer base of over 115 million and highly engaged monthly transacting users (MTU) base of over 31 million.

Consolidated EBITDA witnessed an increase of 24.5 per cent Y-o-Y to Rs. 140.18 billion in Q2 FY’22. EBITDA expansion was broad based across the portfolio. India mobile services EBITDA rose from 42.6 per cent in Q2 FY’21 to 49.2 per cent in Q2 FY’22. Consolidated EBIT increased by 45.4 per cent Y-o-Y to Rs. 57.56 billion. The consolidated net income before exceptional items for the quarter stood at Rs. 5.94 billion. The consolidated net income after exceptional items for the quarter stood at Rs 11.34 billion.

Post the quarter close, the company successfully completed application money leg of the rights Issue of Rs. 209.87 billion, with a subscription of approximately 1.44 times, overbid by both public and promoter and promoter group.

Commenting on the financial reports, Gopal Vittal, MD and CEO, India and South Asia, said, “We welcome the reforms announced by the Government for the telecom industry and believe this will add to the ability of the industry to invest so as to drive India’s digital story. We hope the reforms momentum will continue and all longstanding issues impacting the industry will be addressed. We continue to maintain high degree of financial flexibility. As a result, we have now achieved Nil bank debt for our India businesses. We will continue to evaluate all options to maintain comfortable leverage profile and manage associated costs. During the quarter gone by, we sustained our operational excellence with a healthy 5.5 per cent sequential growth in consolidated revenues and expansion of EBITDA margin to 49.5 per cent. Our strategy of focusing on quality customers has been validated by the strong price flow and ARPU increase that we have seen in our wireless business. The step up in performance of our enterprise and homes business reflects the resilience and strength of our overall portfolio. Even more exciting is the way our new businesses – Airtel Payments Bank, Data Centres and revenues from digital services are shaping up. With a future proofed 5G network, we are well positioned to build a strong Airtel of the future.”