Bharti Airtel, the second largest mobile network operator in India, on February 3 turned profitable for the quarter ended December 2020 posting a consolidated net profit of Rs 853.6 crore, driven by exceptional gains. Its net loss (before exceptional items) stood at Rs 298 crore for the quarter.
It had an exceptional gain of Rs 4,559.9 crore in Q3FY21 which comprised of charge on account of re-assessment of contractual / regulatory levies and taxes of Rs 3,159.6 crore; charge on account of reassessment of the useful life of certain categories of network assets due to technological advancements and impairment of intangible assets of Rs 1,419.5 crore and net credit on account of settlement with a customer and other charge for related entities Rs 19.2 crore.
The company had posted a loss of Rs 763.2 crore in September quarter 2020. In fact, it reported losses in all previous four quarters largely due to AGR provisions.
The highest ever consolidated revenue from operations at Rs 26,517,8 crore in Q3FY21 grew by 5.8 percent sequentially and 24.2 percent year-on-year, said the company in its BSE filing.
“Despite the unprecedented volatility that we have confronted through the year, we delivered another strong performance this quarter. This consistency in performance was across every part of our portfolio, as reflected in market share growth across all business segments,” Gopal Vittal, MD and CEO, India & South Asia said.
“The main highlight of the quarter was the around 1.3 crore 4G customers we added in Wireless business. As a result, we grew revenues by around 25 percent over the same period last year and margins expanded,” he added.
The average revenue per user (ARPU) at Rs 166 increased by 2.4 percent from Rs 162 in the previous quarter and revenue per tower per month grew by 4.4 percent QoQ to Rs 2,43,395, the company said.
The consolidated customer base of the company increased by 4.1 percent to over 45.79 crore in Q3FY21, compared to 43.98 crore users seen at the end of September quarter. Total minutes on network have grown to 1,01,934.2 crore minutes in Q3FY21, up 7.1 percent from 95,159.7 crore minutes in previous quarter.
Indian customer base at 33.62 crore in Q3FY21 rose by 4.9 percent QoQ and 8.9 percent YoY, while customer base in Africa increased by 2.2 percent sequentially and 11 percent YoY to 11.89 crore in Q3FY21.
Revenue from its India Wireless business stood at Rs 14,778.9 crore with EBITDA at Rs 6,459.9 crore, while home services revenue were at Rs 567.4 crore with EBITDA at Rs 315.1 crore and digital TV services revenue at Rs 789.2 crore with EBTIDA Rs 529.1 crore for the quarter ended December 2020.
Airtel business had a revenue of Rs 3,621.4 crore with EBITDA at Rs 1,401.8 crore and Africa business reported revenue at Rs 7,644.2 crore with EBITDA Rs 3,585.2 crore in Q3FY21.
Improving realizations coupled with strong customer additions supported India wireless business, while the strong demand for connectivity and solutions boosted Airtel business, said the company.
On the data business front, total MBs on the network increased by 10.7 percent sequentially to 8,45,370.6 crore MBs and data usage per customer rose by 2.2 percent QoQ to 16,766 MBs.
At the operating level, its earnings before interest, tax, depreciation and amortisation (EBITDA) in Q3FY21 rose 8.2 percent to Rs 12,177.7 crore and margin expanded by 100 bps to 45.9 percent compared with the previous quarter.
News Source:- moneycontrol