06-Feb-2024
2 mins read
Indian prominent telecom company Bharti Airtel released the third quarter earnings of financial year 2024 on February 5, 2024. It reported a consolidated net profit of Rs 2,442.2 crore, up by 54% as compared to the same quarter in the previous year.
Revenue from operation for October to December period increased by 6% to Rs 37,899.5 crore compared to the Rs 35,804 crore in the same period last year. Revenue partially impacted by currency devaluations in Africa.
Company reported a consolidated EBITDA of Rs 20,044 crore in the December quarter. The capital expenditure of the reporting quarter came at Rs 9,274 crore.
Company’s consolidated net income before exceptional items stood at Rs 2,492 crore, up by 25% on a year-on-year basis. While, consolidated net income after exceptional items stood at Rs 2,442 crore up by 53.8% on YoY basis.
What Airtel Management Said?
Bharti Airtel MD Gopal Vittal said, “We have delivered yet another quarter of consistent and competitive growth across all our businesses. Revenue from India business sustained its momentum and grew sequentially by 3.0%, while the consolidated revenue was impacted by the devaluation of the Nigerian Naira and Malawian Kwacha”
He further added that the quarter witnessed a strong growth trajectory for the post-paid and Home business. While DTH business added 388k net adds – highest in the last 12 quarters.
Airtel ARPU Update
Airtel mobile average revenue per user per month was at Rs 208 up by nearly 8% against Rs 193 in the same quarter last year. Bharti Airtel’s overall customer base stands at 551 million across 16 countries.
On Monday, February 5, 2024 the share price of Bharti Airtel fell 3.24% and closed at Rs 1113.55. However, Today the Airtel stock is trading with a bullish note at Rs 1146 up by 2.97%.