Bharti Airtel Q3 revenues up 24.2%

Bharti Airtel consolidated revenues for Q3 ’21 at Rs. 26,518 crore grew 24.2% YoY whereas consolidated mobile data traffic at 8,191 PBs in the quarter with a healthy YoY growth of 52.9%.

India revenues for Q3 ’21 at Rs. 19,007 crore increased by 25.1% YoY. Mobile revenues grew by 32.4% YoY on account of the improved realizations as well as strong customer addition.

ARPU for the quarter came in at Rs. 166 as compared to Rs. 135 in Q3 ’20, an outcome of our focus on acquiring quality customers as well as secular upgrading of customers to data.

The company continues to garner a strong share of the 4G net ads in the market. 4G data customers increased by 33.8% YoY to 165.6 million compared to the previous year. Over the last 4 quarters, the company has added around 42 million 4G customers to its network. ARPU continues to be the best in the industry – average data usage per data customer at 16.4 GBs/month; while voice usage was at 1,027 mins/customer/month.

The company continues to see strong traction in its post-paid business also and added around 700K post-paid customers this quarter. We continue to invest ahead of the curve to create capacities and provide a brilliant experience to our customers.

Homes business segment witnessed a revenue growth of 2.3% YoY with highest ever customer additions of around 215K during the quarter to reach a total base of 2.79 million. We re-calibrated our offering and launched Xstream bundles with content and unlimited internet to accelerate penetration. The company continued to scale up the LCO partnership model to expand its footprint in non-wired cities, extending the model to over 120 cities.

Airtel Business continues to accelerate its momentum with 9.2% YoY growth, driven by demand for connectivity and solutions across global business and domestic businesses. The company continues to expand and grow adjacent verticals such as Data centres, Cloud, Cyber security, Customer relationship management platforms, video-conferencing amongst others.

Digital TV witnessed a growth of 5.8% YoY on an underlying basis, on the back of strong customer additions of 485K during the quarter. We continue to make progress through innovative propositions and differential experience to accelerate the business growth.

The Digital services offerings of Airtel continue to see robust growth. MAUs increased to over 190 Mn across our key digital assets – Thanks, Wynk, Xstream. There are over 1.2 million retailers transacting and making payments every day on Mitra App. Online recharges continue to contribute around 50% of overall revenues.

Consolidated EBITDA witnessed an increase of 38.2% YoY to Rs. 12,178 crore in Q3 ’21. This led to an improvement in EBITDA margin from 41.3% in Q3 ’20 to 45.9% in Q3 ’21. Incremental EBITDA margins across businesses remained healthy, with mobile services EBITDA improving from 35.9% in Q3’20 to 43.7% in Q3’21.

Consolidated EBIT increased by 134.9% YoY to Rs. 4,665 crore. The Consolidated Net loss before exceptional items for the quarter stands at Rs 298 crore. The Consolidated Net income after exceptional items for the quarter stands at Rs. 854 crore.

Commenting on the results, Gopal Vittal, MD and CEO, India & South Asia said, “The main highlight of the quarter was the around 13 Million 4G customers we added in our Wireless business. As a result, we grew our revenues by around 25% over the same period last year and margins expanded. We are also proud to have become India’s first telco to have demonstrated a Live 5G service over a commercial network in Hyderabad city. This reaffirms our strategy to win with quality customers.”

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