Bharti Airtel Q4FY23 PAT up 49.7% at Rs3,006 crore on 40% surge in India mobile service operating profits amid higher ARPUs
Bharti Airtel reported 14.31% higher revenues for the March 2023 quarter on consolidated basis at Rs36,009cr on better India mobile ARPUs. Sequential revenues were up 0.57%. In terms of verticals, Bharti Airtel saw sharp growth in revenues of 11.5% in the India mobile business and 11.2% in the Africa mobile business. There was good growth traction in Airtel Business and Airtel Homes vertical while the digital TV business saw revenues tapering.
Operating profits saw a huge thrust of 44% in the India mobile business operating profits and even the Africa mobile service saw operating profits up 13.3%. Among other Verticals, Airtel Business saw sharp growth in operating profits while Towers saw lower operating profits yoy. Profits from digital TV services continued to lag. EBITDA margins for the quarter stood at 52% with the India business posting EBITDA of 53.1%. The mobile ARPU increased yoy from Rs178 to Rs193, which was a big contributor to the profit growth.
Financial highlights for Mar-23 compared yoy and sequentially
Bharti Airtel | |||||
| Rs in Crore | Mar-23 | Mar-22 | YOY | Dec-22 | QOQ |
| Total Income (Rs cr) | ₹ 36,009 | ₹ 31,500 | 14.31% | ₹ 35,804 | 0.57% |
| Operating Profit (Rs cr) | ₹ 10,068 | ₹ 8,191 | 22.92% | ₹ 9,031 | 11.48% |
| Net Profit (Rs cr) | ₹ 3,006 | ₹ 2,008 | 49.70% | ₹ 1,588 | 89.25% |
| Diluted EPS (Rs) | ₹ 5.19 | ₹ 3.55 | ₹ 2.76 | ||
| OPM | 27.96% | 26.00% | 25.22% | ||
| Net Margins | 8.35% | 6.37% | 4.44% | ||
Strong 4G customer additions were also responsible for the growth in profits. While OPMs improved from 26% to 27.96% yoy, the net margins also improved from 6.37% to 8.35% on yoy basis. As of March 2023, Airtel has a total customer base of 518.45 crore customers. This includes 375.34 crore customers from India, 140.05 crore customers from Africa and the remaining 3.1 crore customers from South Asia.
