Bharti Airtel, a leading telecom operator in India, has announced the financial and performance results for Q3 FY24. The telco has reported a net profit of Rs 2,442 crore, almost 83% up QoQ from Rs 1340 crore in the previous quarter. The highlight of the results was the average revenue per user (ARPU) touching Rs 208 without hiking the mobile tariffs majorly.
Airtel reported its quarterly revenues at Rs 37,900 crore, up 5.9% YoY, partially impacted by currency devaluations in Africa. Let's take a look at the key data or metrics that signify what Airtel has done in Q3 FY24.
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Bharti Airtel Q3 FY24 Results Key Metrics
Airtel's net profit for Q3 FY24 is Rs 2,442 crore, up 53.8% YoY. The telco added 7.4 million 4G/5G customers during the quarter. Over 71% of its overall mobile customer base is now 4G/5G. Airtel's postpaid mobile subscriber base grew by 0.9 million during the quarter. Airtel's total postpaid customer base now stood at 48.3 million at the end of the quarter (including IoT). Mobile data consumption also went up by 21.1% YoY, bringing the consumption to 22GB per month.
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The telco said that it added 388k subscribers under its Digital TV (DTH) service. This was the highest adds in a single quarter in the last 12 quarters. Capex for the quarter (for India business) was at Rs 7,756 crore. Airtel rolled out 12.3k towers during the quarter to strengthen its network coverage.
Airtel said that its homes business saw its subscriber base increase by 359k during the quarter to reach a total base of 7.3 million. The telco's homes business is now available in 1267 cities across India. Digital TV's total customer base stood at 16.1 million at the end of quarter.
Gopal Vittal, Bharti Airtel's Managing Director said, " The quarter witnessed a strong growth trajectory for the postpaid and Homes business, while our DTH business added 388k net adds – the highest in the last 12 quarters. We remain on course with our strategy of premiumization that helped us add 7.4 million 4G/5G customers and exit the quarter with an industry leading ARPU of Rs. 208. Even at this ARPU, our return on capital employed however, continues to be low at 9.4 percent. To ensure industry health, tariff repair is extremely critical."
