Bharti Airtel reports strong Q3’24 results with significant growth in revenue and customer base
Bharti Airtel Limited, a leading global telecommunications company, has unveiled its audited consolidated results for the third quarter ended December 31, 2023, showcasing robust growth across key financial metrics. The company reported consolidated revenues of Rs 37,900 crore, marking a 5.9% year-over-year (YoY) increase. This growth, however, was partially offset by the devaluation of African currencies.
The company’s India operations were particularly strong, with revenues reaching Rs 27,811 crore, up 11.4% YoY. This surge was attributed to improved realization and significant customer additions in the 4G/5G segment, leading to an average revenue per user (ARPU) of Rs 208, compared to Rs 193 in the same quarter the previous year.
Bharti Airtel continued to expand its network infrastructure, rolling out approximately 12,300 towers in the quarter to enhance coverage and connectivity. The company’s commitment to digitalization and high-value customer acquisition contributed to a 23.0% YoY revenue growth in its Homes business, now operational in 1,267 cities.
Bharti Airtel Sees Revenue and EBITDA Rise in Third Quarter, Bolsters 4G/5G Network Expansion
Highlighting its strategic initiatives, Bharti Airtel entered into partnerships with Intellismart and Adani energy solutions to support smart metering projects. Additionally, the acquisition of a significant stake in Beetel teletech and Dixon electro appliances private limited aligns with the company’s ‘Make in India’ strategy, enhancing its distribution and service capabilities.
The company’s Digital TV segment continued to strengthen its market position, reaching a customer base of 16.1 million by the end of the quarter. Bharti Airtel’s digital capabilities also saw more than 210 million monthly active users across its key digital platforms, with Airtel Xtream play crossing five million paid customers.
Bharti Airtel’s focus on environmental, social, and governance (ESG) initiatives led to a significant increase in renewable energy use and a reduction in operational emissions. Financially, the company reported a 7.8% YoY increase in EBITDA to Rs 20,044 crore, with EBITDA margins improving across its India businesses.
With a clear strategy of premiumization and network expansion, Bharti Airtel is poised for continued growth. The company’s efforts to repair tariffs and optimize capital structure, including prepayment of high-cost debt, underline its commitment to strengthening its balance sheet and enhancing shareholder value.
In summary, Bharti Airtel’s Q3’24 results reflect a company on a strong growth trajectory, supported by strategic investments in network expansion, digital services, and sustainability initiatives. As Bharti Airtel continues to navigate the competitive telecom landscape, its focus on innovation, customer experience, and operational efficiency positions it well for future success.