Financial result Bharti Airtel Q4FY23 net profit soars 50% YoY to Rs 3,006 cr; ARPU rises to Rs 193
Mumbai: Bharti Airtel, the second-largest telecommunications company in India, recorded a massive 50% increase in consolidated net profit to reach Rs 3,006 crore for the quarter ending in March 2023 compared to Rs 2,008 crore in the same period last year.
On a quarter-on-quarter basis, Bharti Airtel experienced a substantial rise of 89% in net profit.
Bharti Airtel also saw a considerable rise in revenue from operations at Rs 36,009 crore, marking a 4 percent increase from Rs 31,500 crore reported a year ago. Although the sequential revenue growth was modest at 1 percent, it still demonstrates the company's ability to maintain a stable revenue stream.
In the quarter under review, Bharti Airtel recorded a consolidated EBITDA of Rs 18,807 crore, marking an 18 percent year-on-year increase and a 1 percent quarter-on-quarter increase. The EBITDA margin for the quarter stood at 52.2 percent, compared to 50.8 percent in the corresponding quarter of the previous year and 52.0 percent in the previous quarter.
The average revenue per user (ARPU) for mobile services rose to Rs 193 in Q4FY23 from Rs 178 in the same quarter of FY22. Bharti Airtel also witnessed a growth of 23.3 million new 4G customers compared to the previous year and added 7.4 million customers sequentially.
"A simple strategy and our relentless focus on execution has ensured that we close the year with market share gains across all businesses. We are also pleased to see the increased velocity of our digital deliveries across all parts of our business. This has been due to our sustained focus on digital platforms and talent."
He also said that Bharti Airtel is still expanding its 5g connectivity and expects to join all major towns and key villages by the end of this year.
The revenues from mobile services in India, which is the largest segment for the company, saw a growth of 11.5 percent year-on-year. This growth was primarily driven by the ongoing addition of 4G customers and an increase in average revenue per user (ARPU).
The board of directors of Bharti Airtel has proposed a final dividend of Rs 4 per fully paid-up equity share with a face value of Rs 5 each, and Rs 1 per partly paid-up equity share with a face value of Rs 5 each (paid-up Rs 1.25 per share) for the fiscal year 2022-2023. The dividend amount is proportional to the paid-up value of each equity share, which has a face value of Rs 5 each.
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