Bharti Airtel’s Q2FY24 Quarter Results

Bharti Airtel’s revenues grew 8% YoY
  • 01 Nov 2023
  • Bharti Airtel reported 1% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter ended September (Q2FY24). On a year-on-year (YoY) basis, it witnessed a growth of 8%.
  • Its expenses for the quarter were down by 2% QoQ and up 4% YoY.
  • The net profit grew 38% QoQ and de-grew 30% YoY.
  • The earnings per share (EPS) of Bharti Airtel stood at 2.3 during Q2FY24.

Bharti Airtel’s Financial Statements for Q2FY24:

(Rs crores) Q2FY23 Q1FY24 Q2FY24 QoQ (%) YoY (%)
Total income
Total expenses
Profit before tax
Profit after tax
Earnings per share

Result Highlights

  • The company’s mobile services India revenues up 11.0% YoY, led by strong 4G/5G customer additions and increase in average revenue per user (ARPU).
  • Airtel Business revenues were up by 9.5% YoY, backed by synergies from connectivity solutions.
  • Homes business continued its growth impetus, with revenues up 23.3% YoY led by solid customer additions.
  • Digital TV continues to hold its market position, revenues up by 3.1% YoY.
  • The company noted that it witnessed industry leading operational indicators showcasing strong business momentum and solid execution.
  • 4G/5G data customers up by 27.2 million YoY & 7.7 million QoQ, 69% of overall mobile customer base.
  • Highest ever postpaid net adds of 1.0 million in Q2’24 o Mobile ARPU increased to Rs 203 in Q2’24 vs Rs 190 in Q2’23.
  • Mobile data consumption up by 19.6% YoY, consumption per customer at 21.7 GB per month.
  • Homes business saw sustained momentum growth with highest ever 471K customer net additions in Q2’24.
  • Digital TV customer base at 15.7 million in Q2’24.
  • Launched Airtel Xstream AirFiber – India’s 1st wireless home Wi-Fi, powered by 5G Plus.

Key Numbers & Management Commentary

  • The company’s overall customer base stands at 540 million across 16 countries.
  • Capex for the quarter stood at Rs 9,206 crore.
  • The company continues to take lead on technological innovations as it successfully tested India’s first Reduced Capability (RedCap) technology on the 5G network in partnership with Ericsson.
  • RedCap solution will bring down complexity and extend battery life of devices while delivering higher data speeds.
  • The company strengthened its leadership position in Postpaid segment with highest ever net adds of 1.0 Mn in Q2’24 thereby reaching a customer base of 43.9 million (including IoT).
  • It continued to garner strong market share of 4G/5G customers and added 27.2 million 4G/5G data customers to our network over last year, an increase of 12.9% YoY.
  • The company rolled out ~11.1k towers in the quarter to further strengthen our network coverage and provide seamless connectivity. It has rolled out ~41k towers in last 12 months to ensure coverage and connectivity in rural as well as urban areas.

About the Company

Headquartered in India, Airtel is a global communications solutions provider with over 500 million customers in 17 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its networks cover over two billion people.

Airtel is India’s largest integrated communications solutions provider and the second largest mobile operator in Africa. The company’s retail portfolio includes high-speed 4G/5G mobile broadband, Airtel Xstream Fiber that has speeds up to 1 Gbps with convergence across linear and on-demand entertainment, streaming services spanning music and video, digital payments and financial services.

Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results

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