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Bharti Airtel Q4 Results: Profit rises 2%, but misses estimates

Bharti Airtel Ltd.’s profit for the fourth quarter of fiscal 2024 declined, missing analysts’ estimates. The telco’s net profit declined 28% sequentially to Rs 2,068 crore and revenue 0.8% to Rs 37,599 crore in the January-March quarter.

A final dividend of Rs 8 per share of face value Rs 5 each, and Rs 2 per partly paid share of Rs 5 have been approved.

The company reported an exceptional charge of Rs 2,455.5 crore, largely on account of devaluation of the Nigerian currency Naira.

Airtel Q4 FY24 Results Highlights (Consolidated, QoQ)

  • Revenue fell 0.8% to Rs 37,599 crore (Bloomberg estimate: Rs 38,607.3 crore).
  • Operating profit declined 2.3% to Rs 19,365 crore (Bloomberg estimate: Rs 20,480.4 crore).
  • Margin at 51.5% versus 52.28%.
  • Average revenue per user rose to Rs 209 versus Rs 208.

Bharti Airtel’s India customer base stands at 56.19 crore subscribers across 16 countries, up 2% from the quarter-ended December.

India customer base rose 8% year-on-year to 40.92 crore.

The CapEx for India for the quarter stood at Rs 8,491.2 crore, as compared with Rs 8,989.4 crore in the previous quarter, down 6%.

The company also approved a final dividend of Rs 8 per share of face value Rs 5 each, and Rs 2 per partly paid share of Rs 5.

Shares of Bharti Airtel closed 0.09% lower at Rs 1,285.4 apiece, as compared with a 0.45% advance in the benchmark BSE Sensex on Tuesday. The results were announced after market close. NDTV Profit

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