Bharti Airtel: After the business released impressive Q3 earnings, Bharti Airtel’s stock price increased by more than 3% in early trading on Tuesday. On the BSE, Bharti Airtel shares increased by as high as 3.03% to ₹1,147.55 per. Major telecom provider Bharti Airtel reported a consolidated net profit for the third quarter of FY24 on Monday of ₹2,442.2 crore, up 54% from the same period the previous year.
Supported by a robust and steady performance from India operations, which produced quarterly revenue of ₹27,811 crore, up 11.4% YoY, the country’s second-largest telecom operator by subscribers reported revenue of ₹37,900 crore in Q3FY24, up 5.9% year-over-year (YoY). Nonetheless, a decline in the value of African currencies affected the company’s combined quarterly results.
Driven by a consistent strategy of acquiring high-value customers and improved realizations, the average revenue per user per month (ARPU) stood at ₹208, up nearly 8% from ₹193 in the same quarter the previous year. EBITDA margin improved by 94 basis points year over year to 52.9%, while consolidated EBITDA was ₹20,044 crore.
We are sticking to our premiumization strategy, which has allowed us to add 7.4 million 4G/5G users and end the quarter with an industry-leading ARPU of Rs. 208. Our return on capital employed, however, is still poor at 9.4% even at this ARPU. Tariff adjustment is vital to the industry’s health, according to Gopal Vittal, MD of Bharti Airtel. In the last three months, Bharti Airtel’s share price has increased by over 21%, with a gain of over 8% in only one month. In a single year, the stock has returned more than 44%.
The price of a Bharti Airtel share was up 2.35% at ₹1,139.95 per share on the BSE at 9:45 am.
