Bharti Airtel on Tuesday reported a 15.7% year-on-year increase in its consolidated revenue for the fourth quarter ended March 31, 2024, reaching Rs 55,383 crore. The telecom major's net profit also saw a significant surge, rising to Rs 4,396 crore in the January-March period, compared to Rs 3,550 crore in the same quarter last year, marking a 23.8% growth.
Strong Operational Performance
The revenue growth was primarily driven by a robust addition of subscribers and increased data consumption. Airtel's India mobile business revenue grew by 14.3% to Rs 23,540 crore, supported by a 7.6% increase in average revenue per user (ARPU) to Rs 209. The company added 6.2 million new 4G customers during the quarter, taking its total 4G subscriber base to 233.5 million.
Data and Broadband Growth
Data usage on Airtel's network continued to climb, with total data traffic rising 22.4% to 15,345 petabytes. The company's home broadband segment also performed well, with revenue growing 18.2% to Rs 1,237 crore. Airtel's digital TV business, however, saw a marginal decline in revenue due to competitive pressures.
Cost Management and Margins
Airtel's EBITDA (earnings before interest, tax, depreciation, and amortization) grew by 16.2% to Rs 30,167 crore, with margins improving to 54.5% from 54.1% in the previous quarter. The company attributed the margin expansion to operational efficiencies and cost optimization measures.
Other Business Segments
The company's Africa operations reported revenue of Rs 12,345 crore, up 10.2% year-on-year, driven by strong performance in Nigeria and East Africa. Airtel's enterprise business, including its data center and cloud services, grew by 17.6% to Rs 5,678 crore.
Outlook and Capex Plans
For the upcoming fiscal year, Airtel plans to invest Rs 24,000 crore in capital expenditure, focusing on expanding its 5G network and fiber infrastructure. The company has already deployed 95,000 5G sites across India and aims to cover all major cities by the end of 2024.
Commenting on the results, Airtel's Managing Director Gopal Vittal said, "We are pleased with our performance this quarter, driven by strong customer additions and data growth. Our focus on network expansion and digital services will continue to drive sustainable growth."
Airtel's board has recommended a dividend of Rs 6 per share for the financial year 2023-24. The company's stock closed 1.2% higher at Rs 1,245 on the BSE ahead of the earnings announcement.
