Telecom Services company Bharti Airtel announced Q3FY24 results: Bharti Airtel posts quarterly revenues of Rs 37,900 crore – up 5.9% YoY, partially impacted by currency devaluations in Africa India business posts quarterly revenues of Rs 27,811 crore – up 11.4% YoY backed by strong and consistent performance across the portfolio Mobile services India revenues up 11.8% YoY, led by strong 4G/5G customer additions and an increase in ARPU Airtel Business revenues up by 8.7% YoY, backed by synergies from emerging portfolio Homes business sustains a strong growth trajectory impetus, with revenues up 23.0% YoY on account of solid customer additions Digital TV revenues up by 6.0% YoY, driven by improved realization and recovery in net customer additions Consolidated EBITDA at Rs 20,044 crore; EBITDA margin at 52.9%, improvement of 94 bps YoY India business posts EBITDA of Rs 15,000 crore, EBITDA margin at 53.9%, up 119 bps YoY Consolidated EBIT at Rs 9,844 crore; EBIT margin at 26.0%, improvement of 11 bps YoY India business posts EBIT of Rs 6,509 crore; EBIT margin at 23.4%, expansion of 82 bps YoY Consolidated Net income (before Exceptional items) at Rs 2,492 crore, up by 25.0%YoY Consolidated Net income (after Exceptional items) at Rs 2,442 crore, up by 53.8% YoY Industry-leading operational indicators showcasing strong business momentum and solid execution 4G/5G data customers up by 28.2 million YoY & 7.4 million QoQ, 71% of the overall mobile customer base Postpaid net adds of 0.9 million in Q3’24 Mobile ARPU increased to Rs 208 in Q3’24 vs Rs 193 in Q3’23 Mobile data consumption up by 21.1% YoY, consumption per customer at 22.0 GB per month Homes business saw continued growth with 359k customer net additions in Q3’24 Digital TV net adds at 388k – Highest in last 12 quarters Prepaid Rs 8,325 crore in Jan’24 and Rs 16,349 crore in YTD Financial Year ’24 to the Department of Telecom towards part prepayment of deferred liabilities pertaining to spectrum acquired in 2015 auction Acquired 97.1% stake in Jan’24 in Beetel Teletech along with its 49% stake in Dixon Electro Appliances Private Limited In a statement, Gopal Vittal, MD, said: “We have delivered yet another quarter of consistent and competitive growth across all our businesses. Revenue from India business sustained its momentum and grew sequentially by 3.0%, while the consolidated revenue was impacted by the devaluation of the Nigerian Naira and Malawian Kwacha. The quarter witnessed a strong growth trajectory for the postpaid and Homes business, while our DTH business added 388k net adds – the highest in the last 12 quarters. We remain on course with our strategy of premiumization that helped us add 7.4 million 4G/5G customers and exit the quarter with an industry leading ARPU of Rs 208. Even at this ARPU, our return on capital employed however, continues to be low at 9.4 percent. To ensure industry health, tariff repair is extremely critical.” Result PDF