Airtel’s net income down by 31 percent in Q4; Revenue up 4.4 percent

New Delhi, May 14 (UNI) India’s leading telecom operator Bharti Airtel today reported a massive over 31 percent decline in its consolidated net income at Rs 2,072 crore during Q4 (January-March) of 2023-24 as against Rs 3,006 crore in the same quarter of last fiscal 2022-23.

Revenues from operations, however, grew marginally 4.4 percent to Rs 37,599 crore in the fourth quarter of 2023-24 as against Rs 36,009 crore during Q4 of 2022-23, the company said in a statement.

Full-year net income also fell by 10.5 percent at Rs 7,467 crore in 2023-24 compared to Rs 8,346 crore in the previous financial year (2022-23). The full year (2023-24) revenue grew 7.8 percent at Rs 149,982 crore compared to Rs 139,145 crore in 2022-23.

Commenting on the results, Gopal Vittal, MD, said “We ended the year on a strong note with consistent performance across all businesses, both on customer metrics as well as financial parameters… Consolidated performance was impacted primarily by the devaluation of the Nigerian Naira. We added 7.8 million smartphone customers and delivered an industry-leading ARPU of Rs 209.”

Company’s relentless focus on improving customer experience has resulted in a 20 percent churn reduction during the quarter. Our simple and clear strategy coupled with razor-sharp focus on execution enabled us to end the quarter with a lifetime high market share across all businesses. Our efforts on digitizing Airtel are now gathering velocity and is being visibly felt across all parts of our operations.

At the same time, our return on capital employed continues to remain low due to the absence of tariff repair in the industry, Vittal added.

For FY24, the Board has recommended a final dividend of Rs. 8 per fully paid-up equity share of face value of Rs. 5 each.

India revenues for Q4’24 at Rs 28,513 crore, increased by 12.9 percent YoY. Mobile revenues grew by 12.9 per cent YoY on account of improved realisation as well as strong 4G/5G customer additions during the year. ARPU for the quarter stood at Rs 209 as compared to Rs 193 in Q4’23 driven by sustained focus on acquiring quality customers and mix improvement.

Airtel is a global communications solutions provider with over 500 Million customers in 17 countries across South Asia and Africa.

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