Bharti Airtel recorded robust growth in fourth quarter earnings owing to growth in home connections
Telecom giant Bharti Airtel has reported a consolidated net profit of Rs 759 crore for the period ended March 31, 2021, for which it credited robust customer addition and a major spurt in home business segment, mainly owing to Corona virus induced lockdowns in several parts of the country.
Its revenue from operations rose 12 per cent to Rs 25,747 crore for the March quarter. It was Rs 23,018 crore in the year-ago period.
The company had posted a loss of Rs 5,237 crore during the corresponding period of FY20.
The revenues from India business were up 17.5 per cent year-on-year at Rs 18,338 crore, while revenues from mobile services rose 19.1 per cent on YoY basis led by strong customer additions, the company said.
Airtel’s consolidated EBITDA was at Rs 12,583 crore for the quarter under review, while EBITDA margin came in at 48.9 per cent – improvement of 647 bps year-on-year.
Mobile average revenue per user (ARPU) during the March quarter stood at Rs 145 compared to Rs 135 in the corresponding period of FY20 on a comparable basis.
“Relentless focus on customer obsession that has allowed us to deliver another consistent quarter in terms of performance. Our mobile revenues grew at 19.1 per cent YoY backed by 13.7 million 4G customer additions. We are seeing strong momentum in our homes business with 274,000 net adds. The enterprise segment delivered double digit growth. Our digital assets continue to scale and we are beginning to see strong traction in monetisation of these assets,” said Managing Director and CEO of Bharti Airtel, Gopal Vittal.
Commenting on the challenges posed by the second wave of coronavirus, Mr Vittal said, “we recognise the criticality of our role as a telecom operator in keeping our customers and nation connected in such times. Our focus continues to be on delivering uninterrupted services and great end user experience while ensuring safety of our employees and partners.”
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