Bharti Airtel Q4 Results: Profit slides 31% YoY to Rs 2,072 crore; dividend declared at Rs 8/share
Telecom major Bharti Airtel on Tuesday reported a 31% fall in its consolidated net profit at Rs 2,072 crore for the quarter ended March 2024. This compares with Rs 3,006 crore profit in the previous year's quarter.
The profit missed the Street estimates by a wide margin, which saw the figure around Rs 3,274 crore.
Revenue from operations in the January-March 2024 period increased 4% to Rs 37,599 crore against Rs 36,009 crore in the corresponding period of last year.
The Board has also recommended a final dividend of Rs 8 per fully paid-up share and Rs 2 per partly paid-up equity share for the financial year 2023-24.
Consolidated revenues for the quarter were impacted by the devaluation of African currencies during the period, particularly Nigerian Naira.
Airtel has posted an ARPU (average revenue per user) for the quarter stood at Rs 209 compared to Rs 193 in the same quarter of last year, driven by sustained focus on acquiring quality customers and mix improvement.
India revenues for the March quarter jumped 13% YoY to Rs 28,513 crore, while mobile revenues grew 13% YoY on account of improved realisation as well as strong 4G/5G customer additions during the year.
Consolidated EBITDA during the March quarter rose 4% YoY to Rs 19,590 crore against Rs 18,807 crore in the same quarter last year. Meanwhile, EBITDA margins declined 10 basis points to 52.1%.
Homes business sustained its growth momentum and delivered a revenue growth of 20% YoY, a result of company’s strategy to harness the growing demand of
