Bharti Airtel has announced financial results for Q1 FY23. The telco has posted quarterly revenues of Rs 32,805 crore, up by 22.5% YoY. India business of Airtel posted quarterly revenues of Rs 23,319 crore, up by 23.8% YoY. Airtel also reported a significant gain in mobile services revenue from India, which is up by 27.4% YoY, due to an increase in average revenue per user (ARPU) and strong 4G subscriber addition. Airtel said that it is the number one B2B player in the country, with Airtel Business revenues going up by 15.2% YoY. Let's take a look at some of the key metrics.
Bharti Airtel ARPU, Net Profit and More for Q1 FY23
Bharti Airtel's ARPU has jumped to Rs 183 (as expected by the analysts), which is quite high from Rs 146 in the same quarter the previous year. The 4G subscribers grew by 20.8 million YoY and 4.5 million QoQ and comprise 63% of the overall customer base. Airtel said that mobile data consumption was up by 16.6% YoY, at 19.5GB per month per mobile.
Home Business of Airtel continued to expand its footprint during the quarter with net additions of 1.4 million. The Airtel Digital TV customer base grew by 17.4 million in Q1 FY23.
Airtel Payments Bank also saw growth during the quarter. The monthly transaction customers of Airtel Payments Bank grew by 65% YoY. Airtel said that it would lead India's 5G revolution. The telco had acquired 19,867.8 MHz of spectrum for Rs 43,040 crore in the recently concluded 5G spectrum auction.
The telco's net profit stood at Rs 1,607 crore during the quarter. Airtel might be happy with the figures. The telco said that its overall customer base across 16 countries stood at 497 million at the end of June 30, 2022. Total capex spends for Airtel during the quarter stood at Rs 6,398 crore. For India alone, the capex spending stood at Rs 5,288 crore, as it is the biggest market for the company.
Gopal Vittal, MD and CEO of Airtel, said, “This has been another solid quarter. We continue to deliver strong and sustained growth at 4.5% sequentially. EBITDA margins are now at 50.6%. Our enterprise and homes business has strong momentum and delivered strong double-digit growth, improving the diversity of the overall portfolio. Airtel’s strategy of winning with quality customers continues to yield good results, with an industry-beating ARPU at Rs 183.
As India gets ready to launch 5G, we are well positioned to raise the bar on innovation. We are also confident of meeting the emerging needs of discerning customers looking for speed, coverage and latency. Our astute spectrum strategy over the last few years as we bolstered mid-band spectrum is designed to deliver the best experience at the lowest total cost of ownership.”