Bharti Airtel Q1 2021 revenues up 15.4%

Bharti Airtel first quarter 2021 consolidated revenues stood at Rs. 23,939 crore grew 15.4% YoY on reported basis (15.8% YoY on an underlying basis).

Consolidated EBITDA witnessed an increase of 25.3% YoY to Rs. 10,639 crore in Q1 2021. This led to an improvement in EBITDA margin by 3.5 p.p. YoY to 44.4%.

The Consolidated Net Loss before exceptional items for the quarter stands at Rs. 436 crore. The Consolidated Net Loss after exceptional items for the quarter stands at Rs. 15,933 crore.

Africa revenues (in constant currency) up 13% YoY, EBITDA margin at 44.0%, up 0.6 p.p. YoY, EBIT margin at 24.7%, up 0.2 p.p. YoY

India revenues for Q1 2021 at Rs. 17,589 crore have increased by 14.6% YoY on a reported basis (15.1% YoY on an underlying basis). Mobile revenues have witnessed a YoY growth of 18.5%. ARPU for the quarter is at Rs. 157 as compared to Rs. 129 in Q1 2020 led by full impact of our tariff hikes in the previous quarter alongside our continuing focus on quality customers.

4G data customers have increased by 45.3% to 138.3 million from 95.2 million in the corresponding quarter last year while traffic has increased to 74.09 PB/day vis-a-vis 42.90 PB/day in the corresponding quarter last year. Consolidated mobile data traffic at 7,019 PBs in the quarter has registered a healthy YoY growth of 73.5%.

Engagement parameters continue to be best in industry – average data usage per data subscriber at 16.3 GB/month while voice usage was at 994 minutes/subscriber/month. Total Capex spent for the quarter of Rs. 3,975 crore.

Airtel Business continues to accelerate its revenue growth momentum with a 9.2% YoY growth led by growth across all its segments – connectivity revenues from global business, domestic enterprise business besides solutions such as data centres, cloud, IoT.

Digital TV revenue witnessed a growth of 9.3% YoY on an underlying basis, on the back of strong customer additions growth of 5.1% to 16.8 million from 16 million in the corresponding quarter last year. The rollout of the new tariff order also helped Airtel in improving its market share and revenue growth.

Homes business segment continues to remain steady and witnessed a revenue growth of 1.4% YoY. Although on a YoY basis, customer base increased by 4.5%, growth was impacted during the quarter on account of closure of several commercial establishments owing to COVID-19. The company continues to invest in this segment with all new rollouts fully being on fibre.

In order to augment its footprint across the length and breadth of the country, the company continues to capture demand in unwired cities through a LCO partnership model which now lives in 14 cities.

Gopal Vittal, MD and CEO, India & South Asia said, “Data traffic growth surged by around 73% YoY even as 4G net additions slowed down to 2 million caused by supply chain shocks in the device eco system. Revenues grew by 15% Y-o-Y and performance was satisfactory across all segments.”

“We have made rapid strides in our digital business, with nearly 155 million monthly active users across Airtel Thanks, Wynk, Xstream and our payments platforms. Today, 60 percent of Airtel’s entire business goes through its digital channels. We are most excited about the string of partners we are attracting in order to build greater stickiness and ultimately growth from our digital assets,” added Vittal.

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