Bharti Airtel, India's second-largest telecom operator, has just announced its financial results for Q4 FY24. The telco's consolidated net profit after exceptional items stood at Rs 2072 crore for the quarter, and Rs 7,467 crore for FY24. Compared to the Q4 FY23, it is 31.1% down YoY. Even the net profit for the financial year is down YoY (it was Rs 8,346 crore in FY23).
Even though the net profit declined, revenues zoomed upwards. Airtel posted quarterly revenues of Rs 37,599 crore for Q4 FY24 and Rs 1,49,982 crore for FY24. India business posted a quarterly revenue of Rs 28,513 crore, up 12.9% YoY. Mobile services revenues were up 12.9% YoY, and Airtel Business revenues were up by 14.1% YoY. What was positive was the growth in the homes business and DTH (Direct-to-Home) business.
Let's take a look at the key metrics.
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Airtel Key Performance Metrics for Q4 FY24
Bharti Airtel's average revenue per user (ARPU) stood at Rs 209 during Q4 FY24, a growth of Rs 1 only QoQ. The telco added 0.8 million postpaid subscribers and 4G/5G data customers went up by 28.6 million YoY and 7.8 million QoQ. Airtel's 72% mobile user base is 4G/5G connected. Mobile data consumption was up 25% YoY at 22.6GB per month. Airtel's Homes business added 331,000 customers during the quarter. Airtel is live with its Homes Business in 1290 cities of the country.
The telco's board has announced a dividend of Rs 8 on fully paid up equity shares.
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Gotal Vittal, Managing Director, Bharti Airtel, said, "We ended the year on a strong note with consistent performance across all businesses, both on customer metrics as well as financial parameters. India revenue (adjusted for Beetel) grew by 1.7% with EBITDA margin expanding to 54.1%, despite one day less in the quarter. Consolidated performance was impacted primarily by the devaluation of the Nigerian Naira. We added 7.8 million smart phone customers and delivered an industry leading ARPU of Rs 209."
"Our relentless focus on improving customer experience has resulted in 20% churn reduction during the quarter. Our simple and clear strategy coupled with razor-sharp focus on execution enabled us to end the quarter with life-time high market share across all businesses. Our efforts on digitizing Airtel are now gathering velocity and is being visibly felt across all parts of our operations. At the same time, our return on capital employed continues to remain low due to the absence of tariff repair in the industry," he added.
