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Informist, Tuesday, May 13, 2025

 

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--Bharti Airtel Jan-Mar consol PAT INR 110.22 bln vs INR 147.81 bln qtr ago
--Analysts saw Bharti Airtel Jan-Mar consol net profit INR 58.13 bln
--Bharti Airtel Jan-Mar consol sales INR 478.76 bln vs INR 451.29 bln qtr ago
--Bharti Airtel to pay INR 16 per share final dividend
--Bharti Airtel Jan-Mar deferred tax credit INR 42.3 bln vs INR 3.8 bln QoQ
--Bharti Airtel FY25 consol net profit INR 335.56 bln vs INR 74.67 bln yr ago
--Bharti Airtel FY25 consol revenue INR 1.730 tln vs INR 1.500 tln year ago
--Bharti Airtel Jan-Mar consol EBITDA INR 274.04 bln vs INR 290.57 bln QoQ
--Bharti Airtel Jan-Mar consol EBITDA margin 57.2% vs 62.0% qtr ago
--Bharti Airtel Jan-Mar India revenue INR 367.35 bln vs INR 364.02 bln QoQ
--Bharti Airtel Jan-Mar India EBITDA INR 220.24 bln vs INR 240.27 bln qtr ago
--Bharti Airtel Jan-Mar India EBITDA margin 60.0% vs 66.0% qtr ago
--Bharti Airtel Jan-Mar India capex INR 125.53 bln vs INR 79.80 bln qtr ago
--Bharti Airtel Jan-Mar consol capex INR 144.01 bln vs INR 91.61 bln qtr ago
--Bharti Airtel Jan-Mar India mobile ARPU INR 245, unch from quarter ago
--Bharti Airtel Jan-Mar India mobile ARPU INR 245, up 17% from year ago
--Bharti Airtel Jan-Mar India mobile revenue up 21% on year
--Bharti Airtel Jan-Mar India mobile sales INR 266.2 bln vs INR 220.7 yr ago

--Bharti Airtel consol customer base 590.51 mln Mar 31 vs 576.98 mln qtr ago

--Bharti Airtel India customer base 424.46 mln on Mar 31 vs 413.87 qtr ago

--Bharti Airtel Mar 31 consol net debt INR 2.038 tln vs INR 1.966 tln Dec 31

 

By Rajesh Gajra

 

NEW DELHI – The earnings performance of Bharti Airtel Ltd. in the March quarter was boosted by a substantial exceptional gain on account of deferred tax benefits, enabling it to report a lower-than-expected fall in the bottom line, but the top line lagged the analysts' estimate. There was a decline in the operating profit and margins of the company.

 

The company reported a 25% sequential fall in consolidated net profit to INR 110.22 billion, sharply above the Street's estimate of INR 58.13 billion. But the fall was buffered by a large deferred tax credit of INR 42.33 billion in the reporting quarter, compared with INR 3.76 billion in the December quarter.

 

The consolidated revenue from operations of Bharti Airtel increased 6.1% on quarter to INR 478.76 billion, which missed the analysts' estimate of INR 486.5 billion marginally. There was a drag on the consolidated revenue growth from a marginal 0.9% sequential increase in India revenue at INR 367.35 billion.

 

The consolidated earnings before interest, tax, depreciation, and amortisation of the company declined 5.7% sequentially to INR 274.04 billion, led by an 8.4% sequential decline in India EBITDA at INR 220.24 billion. The consolidated EBITDA margin contracted to 57.2% in the March quarter from 62% in the previous quarter because of the India EBITDA margin contracting to 60% from 66%.

 

The consolidated top-line growth of 6.1% was supported by a 6.3% increase in revenue from the company's Africa operations at INR 113.76 billion. On the other hand, India revenue increased only 0.9% sequentially to INR 367.35 billion. The consolidated customer base of the company increased to 590.51 million as of Mar. 31 from 576.98 million a quarter ago, while the India customer base increased to 424.46 million from 413.87 million.

 

The India mobile services segment of the company recorded a revenue of INR 266.17 billion for the March quarter, up 21% on year. In the previous quarter, the company had reported a revenue of INR 262.69 billion in the India mobile services segment.

 

The average revenue per user in the India mobile services segment was unchanged sequentially at INR 245. A year ago, the average revenue per user was INR 209. The voice minutes on the India mobile network increased 1.7% on quarter, and the data usage per customer month increased 2.5% sequentially to 25.1 GB.

 

The Africa operations of Bharti Airtel supported the consolidated revenue growth. The customer base in Africa increased 1.8% sequentially with the average revenue per user rising 0.8%. The voice revenue in Africa increased 2% on quarter to $535 million and the data revenue rose 7% sequentially to $524 million.

 

The home services segment of Bharti Airtel recorded a revenue of INR 15.96 billion for the quarter under review, up from INR 15.09 billion in the December quarter. In the business-to-business segments of the company, the Airtel Business operations reported a revenue of INR 53.16 billion for the March quarter, up from INR 56.46 billion for the previous quarter. The revenue from the company's passive infrastructure services operations under Indus Towers Ltd. moved up to INR 77.27 billion for the March quarter from INR 75.47 billion a quarter ago.

 

 

According to the company, there was strong momentum and execution in other key operational indicators as well in the March quarter. The number of smart phone data customers increased by 6.6 million sequentially to 276.8 million in the March quarter, according to the company's investor presentation. The home business saw a step-up in customer additions with around 812,000 net additions in the quarter to reach a total base of 10 million, Bharti Airtel said.

 

The revenue moderation in the Airtel Business segment was in line with the company's strategy, outlined in February, to shed low-margin wholesale business, Vice-Chairman and Managing Director Gopal Vittal said in a press release. He said the segment's underlying growth was steady.

 

Bharti Airtel's consolidated capital expenditure in the March quarter was INR 144.01 billion, up from INR 91.61 billion in the previous quarter. Of this, the India capital expenditure was INR 125.53 billion, up from INR 79.80 billion. The consolidated net debt of the company increased to INR 2.038 trillion as of Mar. 31 from INR 1.966 trillion as of Dec. 31.

 

For the financial year 2024-25 (Apr-Mar), Bharti Airtel reported 4.5 times rise in consolidated net profit to INR 335.6 billion and 15% increase in revenue from operations to INR 1.730 trillion. The company announced Tuesday it will pay a final dividend of INR 16 per share.

 

On Tuesday, shares of Bharti Airtel ended 2.7% lower at INR 1,820.60 on the National Stock Exchange.  End

 

US$1 = INR 85.33

 

Edited by Saji George Titus and Rajeev Pai

 

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