Bharti Airtel Q4 ops revenues up 4.4%, but below expectations
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1 week ago 06:00:04am Television

Bharti Airtel Q4 ops revenues up 4.4%, but below expectations

New Delhi, 15-May-2024, By IBW Team

Bharti Airtel Q4 ops revenues up 4.4%, but below expectations

Indian telecom operator Bharti Airtel reported fourth-quarter revenue below expectations yesterday, hurt by currency devaluation in Africa.

India’s second-ranked telecom carrier by subscribers said consolidated revenue from operations rose 4.4 percent to Rs. 375.99 billion ($4.5 billion) for the three months to March 31, missing analysts’ average estimates of 388.49 billion rupees, as per LSEG data, a Reuters report from Bengaluru stated yesterday.

It incurred an exceptional charge of Rs. 24.56 billion on account of the currency devaluation in its group subsidiaries.

Airtel said mobile services revenue in Africa, the region which is the second-biggest contributor to its total revenue, fell nearly 16 percent on-year to Rs. 92.93 billion, as it was impacted by the devaluation of African currencies, particularly in the Nigerian Naira.

Meanwhile, its India business, its biggest, recorded a revenue growth of nearly 13 percent, led by strong 4G/5G customer additions.

Airtel’s 4G/5G data customers climbed by 28.6 million from last year and 7.8 million from the previous quarter, contributing 72 percent of its overall mobile customer base.

Average revenue per user (ARPU), a key financial metric where Airtel leads its rivals by a wide margin, rose to Rs. 209 from Rs. 193 a year earlier and Rs. 208 in the last quarter.

Rival Jio’s market share stands at 52.05 percent as of March 31, while Airtel has a 29.57 percent share and Vodafone Idea trails at 13.82 percent, according to the regulator TRAI.

Airtel reported a 4.4 percent rise in its profit before exceptional items and taxes to Rs. 52.34 billion.


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