In Short:
Bharti Airtel, India’s second-largest telecom operator, reported a consolidated net profit of Rs 2,072 crore for Q4 FY24, down 31.1% YoY. Despite declining profits, revenues increased with quarterly revenues of Rs 37,599 crore for Q4 FY24. The company saw growth in mobile and Airtel Business revenues. Airtel’s ARPU grew by Rs 1 QoQ, and it added 0.8 million postpaid subscribers. Additionally, Airtel’s Homes business added 331,000 customers during the quarter.
Bharti Airtel Announces Q4 FY24 Financial Results
Bharti Airtel, one of India’s leading telecom operators, has released its financial results for the fourth quarter of FY24. The company’s consolidated net profit after exceptional items for the quarter was Rs 2072 crore, and Rs 7,467 crore for the full financial year. This represents a 31.1% decrease compared to the same quarter in FY23. The net profit for the entire financial year has also decreased from Rs 8,346 crore in FY23.
Revenue Growth and Business Performance
Despite the decline in net profit, Airtel saw a significant increase in revenues. The quarterly revenues for Q4 FY24 were Rs 37,599 crore, and Rs 1,49,982 crore for the entire financial year. The India business reported a quarterly revenue of Rs 28,513 crore, showing a 12.9% year-over-year growth. Mobile services revenues and Airtel Business revenues also saw a positive growth of 12.9% and 14.1% respectively. The homes business and DTH business also experienced growth during this period.
Airtel Key Performance Metrics for Q4 FY24
Average Revenue per User (ARPU): Rs 209
Postpaid Subscribers Added: 0.8 million
4G/5G Data Customers Growth: 28.6 million YoY, 7.8 million QoQ
Mobile Data Consumption: 22.6GB per month
Homes Business Customers Added: 331,000
Dividend Announcement: Rs 8 per fully paid up equity share
Statement from Gotal Vittal, Managing Director, Bharti Airtel
Gotal Vittal commented, “We ended the year on a strong note with consistent performance across all businesses. We saw growth in customer metrics and financial parameters. Our India revenue grew by 1.7% with an EBITDA margin of 54.1%. Despite challenges such as devaluation of the Nigerian Naira, we added new smartphone customers and achieved an industry-leading ARPU of Rs 209.”
He further added, “Our focus on improving customer experience led to a 20% reduction in churn rate. Our clear strategy and execution excellence resulted in a high market share across all businesses. We are accelerating our efforts in digitization, which is transforming all aspects of our operations. However, the industry’s low return on capital employed persists due to lack of tariff correction.”
