Bharti Airtel Q4 results: Net profit zooms 164% to Rs 2,008 cr; revenue rises 22%

Telecom major Bharti Airtel on Tuesday reported 164.5 per cent year-on-year jump in consolidated net profit at Rs 2,008 crore for the fourth quarter ended 31 March, 2022, mainly boosted by recent traffic. The telco had reported a profit of Rs 759 crore in the year-ago period. 

Airtel also reported a 22.3 per cent jump in fourth-quarter revenue.

The company reported consolidated revenue from operations of Rs 31,500 crore for the quarter ended March 31, compared with Rs 25,747 crore in the same period last year, according to a regulatory filing.

The telco's average revenue per user (ARPU) increased to Rs 178 in Q4FY22 from Rs 145 in Q4FY21,

The company's consolidated EBITDA, or earnings before interest, taxes, depreciation, and amortization came at Rs 15,998 crore; EBITDA margin at 50.8 per cent - an improvement of 192 bps YoY. 

Meanwhile, its consolidated EBIT stood at Rs 7,315 crore; EBIT margin at 23.2 per cent - improvement of 362 basis points, it added. 

On the performance of digital growth, Airtel stated that its 4G customers were up by 21.5 million YoY and 5.2 million QoQ, crossing 200 million- mark with a 62 per cent of overall customer base. 

Its mobile data consumption was up by 28.7 per cent YoY and consumption per customer came at 18.8 GB per month.

Homes business showcased continued momentum, 3,23,000 customer net additions in the quarter under review and Digital TV customer base stood at 17.6 million, it added.

Airtel Payments Bank "continues to witness accelerated adoption" leading to increase in monthly transacting users by 26 per cent YoY, thereby expanding revenue and profit margin, it added. 

Airtel also stated that it has paid Rs 8,815 crore towards part prepayment of deferred liabilities pertaining to 2015 spectrum, and it "continues to focus on financial flexibility and optimizing the capital structure and finance cost."

Further, Airtel's board has considered and recommended a dividend of Rs 3 per fully paid-up equity share of face value Rs 5 each and Rs 0.75 per partly paid-up equity share of face value Rs 5 each (paid-up Rs. 1.25 per share) for the financial year 2021-22.

Commenting on the results, Gopal Vittal, MD and CEO, India & South Asia, said, “This has been another quarter to cap a full year of consistent and competitive performance across our portfolio. Our consolidated revenues for the quarter grew by 5.5% and EBITDA margins expanded to 50.8%, underscoring our focus on all round delivery. The mobile business revenues were up 9.5% as we saw the full flow-through of tariff increase."

"Airtel continues to have the highest ARPU at Rs 178. Our Homes and enterprise business continue to exhibit very strong growth momentum, reflecting the resilience of our overall portfolio. Our strong balance sheet and cash flows have enabled us to further repay some of our spectrum liabilities ahead of schedule and improve our leverage," he added.

"We continue to remain optimistic about the opportunities in the coming years and believe we are well poised as a company for three reasons. First, our ability to execute consistently to a simple strategy of winning with quality customers and delivering the best experience to them. Second, our future proofed business model with massive investments in both infrastructure and digital capabilities. Finally, our financial prudence backed by our strong governance focus.”

Shares of Bharti Airtel on Tuesday closed 1.91 per cent higher at Rs 706 apiece on BSE.