Airtel Shocks The Market With 164% Growth In Profits! Earns Rs 22.3 Crore Profit Per Day In 90 Days (Q4 Results)
Telecom titan Bharti Airtel’s net profit more than doubled, increasing by 164% to Rs. 2,008 crore in the three months which ended in March. The net profit of the company in the same time span last year was Rs. 759 crore.
The reason behind Airtel’s growth
Airtel stock closed with a 1.79% increase at Rs. 705.60 per each stock on NSE on Tuesday. Revenue from operations shot up by 22% to Rs. 31,500 crore in the January to March time span in comparison with Rs. 25,747 crore in the same time span of the previous year. The growth was because of the powerful and consistent performance delivery across the portfolio.
The Board has also recommended a dividend of Rs. 3 per fully paid for equity share of face value Rs. 5 each and Rs. 0.75 per partly paid for equity share of face value each (paid for Rs. 1.25 per share) for the financial year 2021-22, Airtel said in a filing.
“This has been another quarter to cap a full year of consistent and competitive performance across our portfolio. Our consolidated revenues for the quarter grew by 5.5% and EBITDA margins expanded to 50.8%, underscoring our focus on all round delivery. The mobile business revenues were up 9.5% as we saw the full flow through of tariff increase,” said the Airtel MD and CEO Gopal Vittal.
The company will remain optimistic
The company is going to remain optimistic about the opportunities in the coming years and believe that they are well poised as a company for three reasons. First, their ability to execute consistently to a simple strategy of winning with quality customers and delivering the best experience to them. Second, their business model is future proofed with massive investments in both infrastructure and digital capabilities. Finally, their financial prudence backed by our strong governance focus, he also said.
For the India business, revenue growth sat at 23% during the fourth quarter whereas mobile revenues increased by 21% on account of the rise in ARPU led by healthy flow through of tariff revision and strong 4G customer additions throughout the year.