Bharti Airtel Q3 Results: Bharti Airtel on Wednesday reported quarterly profit growth after incurring losses in the last six quarters in the December quarter as it added more customers and saw higher data usage during the coronovirus-led work-to-home trend. The Gurugram-based telecom giant recorded a net profit of Rs 853.60 crore in the October-December period with a loss of Rs 1,035.30 crore in the same quarter in 2013. Bharti Airtel generated the highest quarterly revenue in the third quarter of the current financial year. The company said in a press release that its revenue from operations rose 24 per cent year-on-year to Rs 26,517.80 crore.
Bharti Airtel’s consolidated income before interest, tax, depreciation and amortization (EBITDA) or operating profit came in at Rs 12,178 crore and EBITDA margin improved by 464 basis points to 45.9 percent on a year-on-year basis. Airtel’s subscriber base in India increased to 336.2 million, with the company adding 12.9 million 4G subscribers to 165.6 million during the last three months of 2020.
The country’s second largest wireless telecom operator has been gaining subscribers for the past few months, with analysts saying the firm has seen gains in some of the loss-making Vodafone Idea markets.
“Over the past 4 quarters, the company has added 42 million 4G subscribers to its network. ARPU continues to be the best in the industry – average data usage per customer is 16.4 GB / month; while voice usage is 1,027 minutes / customer / month,” Bharti. Airtel said in a statement.
“Despite the unprecedented volatility that we have faced during the year, we delivered another strong performance this quarter. Gopal Vittal, MD and CEO, India and South Asia said in a statement, “This consistency in performance was in every part of our portfolio, as reflected by the increase in market share across all our business sectors.”
Average revenue per user, a key metric of profitability for a telecom company, increased 23 percent per month to Rs 166 per user for the quarter. Bharti Airtel shares rose 1.53 per cent to close at Rs 608.80, about 1 per cent higher than the Sensex.