Bharti Airtel Q1 Results: Cons PAT soars 158% YoY to Rs 4,160 crore, ARPU at Rs 211

Leading telco Bharti Airtel on Monday posted 158% year-on-year growth in its consolidated net profit to Rs 4,160 crore for the first quarter ended June 30, 2024. The profit beat the Street estimates by a wide margin.

An ET Now poll had estimated the profit to be around Rs 3,661 crore.

Revenue from operations for the reporting period increased 3% year-on-year to Rs 38,506 crore, which is marginally below the poll estimates of Rs 38,523 crore.


The company had reported a profit of Rs 1,612 crore and a revenue of Rs 37,440 crore in the first quarter of the previous fiscal year.

The revenue growth during the reporting period was impacted by currency devaluation in Africa.

The company reported an EBITDA of Rs 19,944 crore, which is a marginal increase of 1% year-on-year, while EBITDA margins declined 95 bps year-on-year to 51.8%.

India revenues for the first quarter rose 10% year-on-year to Rs 29,046 crore. Mobile revenues grew by 10% year-on-year on the back of improved realisations during the quarter and sustained customer additions.

ARPU stood at Rs 211 in the April-June 2024 period as compared to Rs 200 in the same period of last year, driven by sustained focus on acquiring quality customers and delivering greater value.

"We continue to deliver industry leading ARPU growth along with growing average data usage per data customer," Airtel said in a release.

"The first quarter was yet another steady quarter with India revenue growing at 1.9% sequentially and sustained EBITDA margins expansion to 53.7%. Our stringent focus on driving cost efficiencies is reflected in strong operating leverage," said Gopal Vittal, MD, Airtel.

The homes business delivered revenue growth of 18% year-on-year, driven by healthy customer additions. The company's focus on digitisation and acquiring high value customers led to 348,000 customer additions in the quarter to reach a total base of 8 million.

Airtel Business recorded revenue growth of 8% year-on-year by leveraging the converged portfolio of Airtel. Revenue of Digital TV remained stable with 16.3 million customer base at the end of quarter.

For the Africa business, revenue in constant currency rose 19% year-on-year and EBITDA margins were down about 313 bps to 45.3%.

"Africa continues to deliver strong underlying constant currency revenue growth. Our digital portfolio is shaping up well and it is geared for accelerated growth to add strength to our already diversified portfolio," said Vittal.

On Monday, Airtel shares closed 1.66% lower at Rs 1,469 on NSE.