Bharti Airtel posts 22% drop in quarterly net profit

29 Jan 2016

Indian telecoms group Bharti Airtel has reported consolidated revenue of INR240.66 billion (USD3.5 billion) for its fiscal third quarter ended 31 December 2015, an increase of 3.7% from INR232.17 billion in the year-ago period, driven by a 44.0% jump in mobile data revenues to INR41.35 million. Total group EBITDA for the quarter climbed by 8.3% year-on-year to INR84.75 billion, while net profit for the three-month period amounted to INR11.17 billion, down by 22.2% from INR14.37 billion in the quarter ended 31 December 2014, thanks to higher interest and spectrum costs. In India, revenue grew by 8.8% from INR162.56 billion in the three months to end-December 2014 to INR176.94 billion in the same period a year later, and EBITDA rose 13% over the same timeframe to reach INR71.88 billion. Domestic mobile data revenues registered a growth of 50.6% year-on-year, led by a 29.9% increase in data customers. Bharti Airtel’s African unit, meanwhile, saw revenue growth of 3.1% y-o-y to INR1.03 billion, while EBITDA for the division increased by around 2%, to total INR219 million in the three-month period under review.

Bharti Airtel ended December 2015 with a total subscriber base of 350.86 million, an increase of 12.1% from 312.90 million twelve months earlier. Group mobile customers grew by 12.2% y-o-y to 336.15 million, including 243.29 million in India (up by 12.0%), 10.79 million in South Asia (26.8%) and 82.07 million in Africa (10.0% y-o-y).

India, Bharti Airtel