Mumbai: Bharti Airtel on Monday reported its first quarter results for the financial year 2023. The company posted revenue of Rs 32,805 crore up by 22.2 per cent year-on-year (YoY). Its India business revenue stood at Rs 23,319 crore up by 23.8 per cent YoY.
Airtel’s consolidated net income after exceptional items stood at Rs 1,607 crore.
Airtel’s mobile services business revenue went up by 27.4 per cent YoY at Rs 18,220 crore led by an increase in average revenue per user (ARPU) and strong 4G customer additions. Airtel’s mobile ARPU increased to Rs 183 over Rs 146 in the corresponding quarter in FY22. Its 4G customers increased by 20.8 million YoY and 4.5 million quarter-on-quarter (QoQ).
The company reported that mobile data consumption per customer has increased by 16.6 per cent YoY and stood at 19.5 Gb per month.
Airtel Digital TV business reported an eight per cent decline in revenue at Rs 748.2 crore versus Rs 809.4 crore in the corresponding quarter last year. The company reported 17.4 million subscribers at the end of the quarter.
Airtel Homes business grew by 41.9 per cent YoY at Rs 926.5 crore led by net customer additions of 1.4 million during the quarter. Airtel Business revenue was up by 15.2 per cent YoY at Rs 4365.6 crore.
“This has been another solid quarter. We continue to deliver strong and sustained growth at 4.5 per cent sequentially,” said Bharti Airtel MD and CEO Gopal Vittal. “EBITDA margins are now at 50.6 per cent. Our enterprise and homes business has strong momentum and delivered strong double-digit growth, improving the diversity of the overall portfolio. Airtel’s strategy of winning with quality customers continues to yield good results with an industry beating ARPU at Rs 183."
He further said, “As India gets ready to launch 5G, we are well positioned to raise the bar on innovation. We are also confident of meeting the emerging needs of discerning customers looking for speed, coverage and latency. Our astute spectrum strategy over the last few years as we bolstered mid band spectrum is designed to deliver the best experience at the lowest total cost of ownership.”
