• Bharti Airtel posts consolidated revenues of Rs 37,599 crore – up 4.4% YoY for the fourth quarter ended March 31, 2024.
o India business posts quarterly revenues of Rs 28,513 crore – up 12.9% YoY backed by strong and
consistent performance across the portfolio
o Mobile services India revenues up 12.9% YoY, led by strong 4G/5G customer additions and increase in ARPU
o Airtel Business revenues up by 14.1% YoY, led by growth in underlying portfolio and consolidation of Beetel
o Homes business continues its growth momentum, revenues up 20.0% YoY led by healthy customer additions
o Digital TV revenues up by 5.5% YoY, continuing the market momentum
• Consolidated EBITDA at Rs 19,590 crore; EBITDA margin at 52.1%
o India business posts EBITDA of Rs 15,293 crore, EBITDA margin at 53.6%, up 56 bps YoY
• Consolidated EBIT at Rs 9,423 crore; EBIT margin at 25.1%, decline of 101 bps YoY
o India business posts EBIT of Rs 6,604 crore; EBIT margin at 23.2%, expansion of 9 bps YoY
• Consolidated Net income (before Exceptional items) at Rs 2,952 crore, up by 13.9%YoY
• Consolidated Net income (after Exceptional items) at Rs 2,072 crore, down by 31.1%YoY
• Industry leading operational indicators showcasing strong business momentum and solid execution
o 4G/5G data customers up by 28.6 Mn YoY & 7.8 Mn QoQ, 72% of overall mobile customer base
o Postpaid net adds of 0.8 Mn in Q4’24
o Mobile ARPU increased to Rs 209 in Q4’24 vs Rs 193 in Q4’23
o Mobile data consumption up by 25.0% YoY, consumption per customer at 22.6 GB per month
o Homes business saw sustained momentum growth with 331 K customer net additions in Q4’24
Bharti Airtel announces consolidated results for the fourth quarter ended March 31, 2024
• Overall customer base stands at ~562 million across 16 countries
• Total revenues at Rs 37,599 crore, up 4.4% YoY
• EBITDA at Rs 19,590 crore, up 4.2% YoY; EBITDA margin at 52.1%, decline of 12 bps YoY
• EBIT at Rs 9,423 crore, up 0.4% YoY; EBIT margin at 25.1%, decline of 101 bps YoY
• Net Income (before exceptional items) at Rs 2,952 crore
• Net income (after exceptional items) at Rs 2,072 crore
• Capex for the quarter at Rs 10,516 crore
Gurugram : Bharti Airtel Limited announced its audited consolidated results for the fourth quarter ended March 31, 2024.
Q4’24 Performance:
Consolidated revenues for Q4’24 at Rs 37,599 crore grew 4.4% YoY. Consolidated revenues were impacted by devaluation of Africancurrencies during the period, particularly Nigerian Naira. Consolidated mobile data traffic at 17,702 PBs in the quarter with a healthyYoY growth of 26.2%.
India revenues for Q4’24 at Rs 28,513 crore, increased by 12.9% YoY. Mobile revenues grew by 12.9% YoY on account of improved realisation as well as strong 4G/5G customer additions during the year. ARPU for the quarter stood at Rs 209 as compared to Rs193 in Q4’23 driven by sustained focus on acquiring quality customers and mix improvement.
Company strengthened our leadership position in Postpaid segment with net adds of 0.8 Mn in Q4’24 thereby reaching a customer base of51.2 Mn (including IoT). It continue to garner market share of 4G/5G customers and added 28.6 Mn 4G/5G data customers to thenetwork over last year, an increase of 12.8% YoY. Continue to deliver industry leading ARPU growth along with growing average data usage per data customer. Rolled out ~10.5k towers in the quarter to further strengthen the network coverage and provide seamless connectivity. Rolled out 43102 towers during the year to ensure coverage and connectivity in rural as well as urban areas.
Homes business sustained its growth momentum and delivered a revenue growth of 20.0% YoY, result of company’s strategy toharness the growing demand of high-speed and reliable broadband in India. Focus on digitization and acquiring high value customers led to 331 K customer additions in the quarter to reach to a total base of 7.6 Mn. We continue to accelerate our homepass rollout on the back of asset light local cable operator partnership model, we are now live in 1290 cities.
Airtel Business delivered revenue growth of 14.1% YoY by leveraging the converged portfolio of Airtel and harvesting the rapidlyincreasing demand for data and connectivity solutions. Emerging digital products are also yielding strong results.
Launched Airtel Advantage, a first-of-its-kind unified platform offering global interconnect solutions. The automated one-stopdestination is the first such platform by an Indian telecom carrier. Offering International Voice, A2P, P2A, P2P SMS, Direct Inward
Dialing (DID) and International Toll Free Service (ITFS), Airtel Advantage will enable carrier partners globally to seamlessly address their connectivity needs in a few clicks.Digital TV continues to consolidate its strong market position with 16.1 Mn customer base at the end of quarter. Company’s focus onmarket specific strategy coupled with simplified pricing and convergence approach ensured that the business continues to grow itsmarket share.Company has been scaling its digital capabilities to deliver best-in-class experience and offering differentiated digital services to the customers. Having robust customer base of ~220 Mn MAUs across oits key digital assets – Thanks, Xstream and Wynk. Digital services span both across B2B and B2C and include Ads, Cpaas, Airtel IQ, IoT, Cloud, SD-WAN and Airtel Finance. Airtel Xtreamplay has over five million paid customer mark and continues to be the fastest growing OTT aggregator in the country .
Consolidated EBITDA witnessed an increase of 4.2% YoY to Rs 19,590 crore in Q4’24. EBITDA margin is 52.1% in Q4’24 vs 52.2%in Q4’23. EBITDA margins across businesses remained healthy, with India EBITDA margins improving from 53.1% in Q4’23 to 53.6%in Q4’24.Consolidated EBIT increased by 0.4% YoY to Rs 9,423 crore. Consolidated Net Income before exceptional items for the quarter stands at Rs 2,952 crore. Consolidated Net income after exceptional items stood at Rs 2,072 crore. Net Debt-EBITDA ratio (annualized) and including the impact of leases as on March 31, 2024 is at 2.61 times. Company continue to optimize the capital structure by judiciously allocating capital across its businesses to strengthen the balance sheet.
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For FY24, the Board has recommended a final dividend of Rs. 8 per fully paid-up equity share of face value of Rs. 5 each and Rs. 2
per partly paid-up equity share of face value of Rs. 5 each (paid-up Rs. 2.00 per equity share).
In a statement, Gopal Vittal, MD, said:
"We ended the year on a strong note with consistent performance across all businesses, both on customer metrics as well as financialparameters. India revenue (adjusted for Beetel) grew by 1.7% with EBITDA margin expanding to 54.1%, despite one day less in thequarter. Consolidated performance was impacted primarily by the devaluation of the Nigerian Naira. We added 7.8 million smart phone customers and delivered an industry leading ARPU of Rs. 209. Our relentless focus on improving customer experience hasresulted in 20% churn reduction during the quarter. Our simple and clear strategy coupled with razor-sharp focus on executionenabled us to end the quarter with life-time high market share across all businesses. Our efforts on digitizing Airtel are now gathering velocity and is being visibly felt across all parts of our operations. At the same time, our return on capital employed continues toremain low due to the absence of tariff repair in the industry.”
