Bharti Airtel Q3 Results 2024 : Bharti Airtel, one of the leading telecom operators in India, has announced its financial results for the third quarter of the fiscal year 2024. The company has posted a robust growth in its net profit, revenue, and customer base, despite facing some headwinds from currency devaluation in Africa and increased competition in the Indian market.
The key highlights of the Q3 results are:
- The consolidated net profit of Bharti Airtel jumped 54% year-on-year to Rs 2,442 crore, compared to Rs 1,588 crore in the same quarter of the previous year. This was mainly driven by higher revenue from data services and improved operational efficiency.
- The consolidated revenue from operations grew 6% year-on-year to Rs 37,900 crore, compared to Rs 35,804 crore in the same quarter of the previous year. The revenue growth was partly impacted by currency devaluation in Africa, which reduced the revenue by Rs 1,100 crore. However, this was offset by strong performance in India, where the revenue increased 11.4% year-on-year to Rs 27,811 crore.
- The average revenue per user (ARPU), a key metric to measure the profitability of telecom operators, increased 7.7% year-on-year to Rs 208, compared to Rs 193 in the same quarter of the previous year. This was mainly due to higher data consumption and tariff hikes implemented in December 2022.
- The total customer base of Bharti Airtel increased 4% year-on-year to 345.6 million, compared to 332.2 million in the same quarter of the previous year. The company added 7.4 million 4G/5G data customers during the quarter, taking the total number of data customers to 245 million, which is 71% of the total customer base.
- The consolidated net debt (excluding lease obligations) of Bharti Airtel reduced to Rs 1.42 lakh crore, compared to Rs 1.54 lakh crore in the same quarter of the previous year. The company also generated a free cash flow of Rs 8,300 crore during the quarter, which helped in reducing the debt.
Bharti Airtel Q3 Results 2024
The Q3 results show that Bharti Airtel has maintained its momentum in the Indian telecom market, where it faces stiff competition from Reliance Jio and Vodafone Idea. The company has also invested heavily in expanding its network coverage and capacity, as well as launching new products and services to attract and retain customers.
company’s CEO and MD Gopal Vittal said
The company’s CEO and MD Gopal Vittal said, “We are pleased with our performance in Q3FY24. We have delivered strong growth across all our segments and geographies. Our focus on quality customers and services has resulted in improved customer satisfaction and retention. We have also continued to invest in our network and digital platforms to enhance our capabilities and offerings for our customers.”
He added, “We remain optimistic about the long-term growth potential of the telecom sector in India and Africa. We are confident that our strategy of providing superior customer experience and value proposition will enable us to sustain our leadership position and create value for all our stakeholders.”