Bharti Airtel just released its Q4 FY23 Results. The company has reported impressive quarterly revenues of Rs 36,009 crore, marking a substantial 14.3 percent year-on-year (YoY) growth. Bharti Airtel attributed this remarkable performance to the company's consistent delivery and strong performance across its diverse portfolio.
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Mobile Services Revenue Increase
The India business segment of Bharti Airtel recorded quarterly revenues of Rs 25,250 crore, showcasing a 12.2 percent YoY increase. The mobile services sector within India witnessed an 11.5 perdent YoY growth in revenues, led by continuous 4G customer additions and a rise in average revenue per user (ARPU).
Airtel Business Growth
The Airtel Business division also achieved a significant YoY revenue growth of 14.5 percent. The company attributed this success to the growing demand for data and connectivity solutions, as well as the emergence of new capabilities in the market.
Accelerating Growth in Homes Business
Bharti Airtel's Homes business continued to gain momentum, reporting a 25.2 percent YoY growth, driven by a substantial increase in customer acquisitions. The company's Digital TV segment also strengthened its market position, further contributing to the overall success.
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Improved EBITDA Margin
The consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 18,807 crore, with an impressive EBITDA margin of 52.2 percent, marking a 144 basis points (bps) improvement YoY. In the India business segment, EBITDA reached Rs 13,403 crore, with an EBITDA margin of 53.1 percent, demonstrating a substantial 225 bps growth YoY.
Consolidated EBIT and EBIT Margin
Furthermore, the consolidated earnings before interest and taxes (EBIT) amounted to Rs 9,387 crore, with an EBIT margin of 26.1 percent. This reflects a significant improvement of 285 bps YoY. Within the India business, the EBIT reached Rs 5,826 crore, with an expanded EBIT margin of 23.1 percent, marking a 432 bps increase YoY.
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Net Income Growth
Bharti Airtel's consolidated net income (before exceptional items) reached Rs 2,592 crore, showcasing an 39.3 percent YoY growth. The consolidated net income (after exceptional items) stood at Rs 3,006 crore, marking a substantial 49.7 percent YoY increase.
4G Data Subscribers
The company's strong business momentum is evident through its industry-leading operational indicators. The number of 4G data customers increased by 23.3 million YoY and 7.4 million quarter-on-quarter (QoQ), accounting for 67 percent of the overall mobile customer base.
Bharti Airtel Q4 ARPU
The mobile average revenue per user (ARPU) increased to Rs 193 in Q4'23 compared to Rs 178 in Q4'22. Mobile data consumption witnessed a significant YoY growth of 20.2 percent, with a consumption rate of 20.3GB per customer per month.
Bharti Airtel's Homes business continued to expand its reach with a net addition of 404,000 customers in Q4'23. The Digital TV segment also reported a customer base of 15.9 million in the same period.
Gopal Vittal, MD, of Bharti Airtel in a statement said: "This has been another strong quarter as we end the fiscal year having further strengthened our portfolio. Our consolidated revenue grew sequentially by 0.6 percent, while EBITDA margin expanded to 52.2 percent despite there being two fewer days in the quarter. Our focus on acquiring quality customers has resulted in 7.4 million new 4G customers, as we exit the quarter with an industry leading ARPU of Rs 193."
"A simple strategy and our relentless focus on execution has ensured that we close the year with market share gains across all businesses. We are also pleased to see the increased velocity of our digital deliveries across all parts of our business. This has been due to our sustained focus on digital platforms and talent."
"We continue to ramp up our 5G roll out and expect to connect all major towns and key villages by the end of this year."
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Airtel 5G Plus
Airtel 5G Plus service is now available to customers in over 3000 cities and towns in the country. Airtel is now offering its 5G services in every major city from the upper northern city of Jammu to the southern tip of Kanyakumari.