Bharti Airtel, a leading telecommunications operator in India and Africa, has reported impressive financial results for the first quarter of the fiscal year 2024.
The company’s revenues during April-June 2023 reached Rs 37,440 crore, showing a significant growth of 14.1 percent. This remarkable performance can be attributed to the consistent and strong delivery across their diverse portfolio of services.
Airtel’s India business division also displayed outstanding results, with quarterly revenues of Rs 26,375 crore, representing a notable increase of 13.1 percent. The mobile services segment in India specifically contributed to this growth, as revenues surged by 12.4 percent. This surge can be attributed to the addition of a considerable number of 4G customers and an increase in the Average Revenue Per User (ARPU).
The Airtel Business division also experienced a substantial upswing, with revenues rising by 15.8 percent. This increase was largely fueled by the rising demand for data and connectivity-related solutions, along with the emergence of new competencies. Furthermore, Airtel’s Homes business continued its impressive growth momentum, recording a remarkable growth of 25.4 percent driven by solid customer additions.
Airtel’s consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) stood at Rs 19,746 crore, with an EBITDA margin of 52.7 percent. This margin improvement of 212 basis points (bps) year-on-year reflects the company’s effective cost management and operational efficiency.
In terms of customer metrics, Airtel witnessed a surge in 4G data customers, with a year-on-year increase of 24.5 million and a quarter-on-quarter increase of 5.6 million. Additionally, the company achieved its highest-ever postpaid net additions, with 0.8 million new subscribers in Q1 fiscal 2024.
The Average Revenue Per User (ARPU) for Airtel’s mobile services rose to Rs 200 in Q1’24, compared to Rs 183 in Q1’23. This increase is indicative of the growing value of services being provided to customers. Moreover, Airtel reported a remarkable 21.6 percent increase in mobile data consumption, with data consumption per customer reaching 21.1 GB per month.
Airtel’s Homes business continued to grow rapidly, adding 413,000 new customers in Q1’24. Additionally, the customer base for Airtel Digital TV reached an impressive 15.9 million, highlighting the increasing popularity of their digital television services.
Bharti Airtel’s capital expenditure for the quarter ending June 30, 2023 was Rs 104,858 million.
Airtel India’s capital expenditure was Rs 4,995 million.
Bharti Airtel said its optic fibre network reached 403,708 R Kms in June 2023 from 388,726 R Kms in March 2023.
Bharti Airtel said the number of network towers has reached 284,221 in June 2023 from 275,069 in March 2023.
Bharti Airtel said the number of mobile broadband base stations has reached 852,650 in June 2023 from 832,369 in March 2023.
These financial and operational achievements showcase Bharti Airtel’s robust performance and its commitment to providing top-notch telecommunications services to its customers across India.
