The second-quarter (July-September) earnings for India’s second-largest telecom company, Bharti Airtel released on October 31.
Rise In Profits
Considering the strong growth in data traffic, the telco’s consolidated net profit for Q2FY23 rose 89 percent to Rs 2,145.2 crore compared to Rs 1,134 crore reported a year back.
Interestingly, the profit was in line with analysts’ projections.
The total revenue stood at Rs 34,526.8 crore, which is up 22 percent from Rs 28,326.4 crore reported in the corresponding quarter last year.
According to the analysts, a 75 to 110 percent year-on-year (YoY) growth in net profit was estimated while revenue growth was pegged at around 20 percent.
Consolidated Results
When it comes to the consolidated numbers from its operations in 16 countries, its voice traffic grew 5.1 percent while data traffic jumped 20.9 percent.
Its customer base is distributed across 16 countries and stood at 50.1 crore up 4.8 percent YoY.
For the same time period, its consolidated EBITDA stood at Rs 17,721.2 crore, up 26.4 percent YoY and 6.7 percent QoQ.
Similarly, EBITDA margin stood at 51.3 percent for the quarter as compared to 49.5 percent in the corresponding quarter last year and 50.6 percent in the previous quarter.
Revenues From India operations
When it comes to the overall revenues from India, including mobile services, home services, digital TV services and B2C services – for the quarter stood at Rs 24,333.3 crore.
Which is up by 22.3 percent vis-à-vis Rs 19,890.4 crore in the corresponding quarter last year.
The EBITDA margin also expanded for the quarter in India.
It was at 51.8 percent as compared to 49.6 percent in the corresponding quarter last year and 51.0 percent in the previous quarter.
When it comes to the Mobile services segment in India, also the biggest segment for the company, revenues for the quarter stood at Rs 18,957.6 crore, up by 24.8 percent YoY.
For the quarter, EBITDA stood at Rs 9,925.8 crore as compared to Rs 7,467.9 crore in the corresponding quarter last year.
At the same time, EBITDA margin was 52.4 percent as compared to 49.2 percent in the corresponding quarter last year and 51.2 percent in the previous quarter.
According to the Telco, the average revenue per user (ARPU) per month in India Was at Rs 190 during the quarter, rising by 3.6 percent sequentially and 23.7 percent annually.
Further adding that Indian business saw 4.2 percent growth in voice traffic during the quarter and 19.6 percent growth in data traffic.
It appears that higher usage drove the earnings of the company.
Comparatively, the customer base was up just 1.3 percent YoY and 0.1 percent QoQ.
Rise in Debt
The consolidated net debt stood at Rs 1,57,277.6 crore as on September 30, 2022, compared to Rs 1,31,341.2 crore as on September 30, 2021 excluding the lease obligations for the company.
Including the impact of leases, the consolidated net debt stood at Rs 2,09,641.9 crore.
The annualized Net Debt-EBITDA ratio including the impact of leases for the quarter was at 2.96 times as compared to 2.52 times in the previous quarter.
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