Bharti Airtel Q3 results update!
Last updated: 03 Feb, 2021 | 04:04 pm
- Record quarterly revenue, beats estimates: Bharti Airtel has posted a robust 24% rise in quarterly revenues to Rs 26,518, crore, its highest consolidated quarterly revenue so far. Analysts had earlier anticipated revenue of about Rs 26,063 crore in Q3.
- Reports profit, backed by a one-off gain: Net profit stood at Rs 853.6 crore compared with a loss of Rs 763 crore in the previous quarter backed by a one-time gain of Rs 944.96 crore arising from the merger of its subsidiary Bharti Infratel Ltd. with Indus Towers. Adjusting for the above, Bharti Airtel reported a loss of Rs 846 crore.
- ARPU(Average Revenue Per User) continues to rise: ARPU continues to be the best in the industry as it jumped to Rs 166 from Rs 162 in the last quarter.
- Growth in business metrics:
- Highest ever customer additions of 215K in the homes business segment.
- 4G data customers increased by 33.8% YoY to 165.6 Mn.
- Digital TV witnessed a growth of 5.8% YoY on the back of strong customer additions of 485K during the quarter.
- Data usage per subscriber at 16.4 GBs/month (16.0 GBs/month in the previous qtr).
The telecom sector has been benefited by the Covid-19 crisis given the surge in demand for telecom services as a result of digitization of workplaces and business. Bharti is expected to benefit the most from the revival in industry revenues due to a strong spectrum footprint, robust balance sheet, and strong execution.
Bharti Airtel remains comfortably placed, as it will continue to gain market share from struggling competitor Vodafone Idea. In recent months, Airtel has regained its position from Jio as the leading player in terms of subscriber additions (Click here to read our report on the same).
Airtel has performed well in operational terms in this quarter and is expected to continue to do so in the near future.