Bharti Q3: Analysts expect profit to grow 3% at Rs 745cr

Country's largest telecom operator Bharti Airtel is set to announce its results for the third quarter of financial year 2012-13 on Friday. Analysts on an average expect profit after tax of the company to grow by 3.3 percent quarter-on-quarter to Rs 745 crore in the quarter, according to CNBC-TV18 poll.

But comparing with previous quarter's adjusted profit after tax, the growth may be 54.4 percent over adjusted profit of Rs 482.6 crore.

Analysts feel the profit may vary due to uncertainty on tax and foreign exchange.

Revenues are seen going up by 2.8 percent to Rs 20,240 crore in the October-December quarter from adjusted revenues of Rs 19,687.1 crore in July-Septemer quarter.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to go up by 3 percent QoQ to Rs 6,280 crore as against adjusted EBITDA of Rs 6,100.8 crore.

EBITDA margin is expected to be flat at 31 percent as against adjusted margin QoQ.

Operational key performance indicators

Analysts expect average revenue per user (ARPU) at Rs 186 as against Rs 177 QoQ while revenue per minute is seen going up by 0.8 percent to 42.95 paise in December quarter from 42.6 paise in September quarter.

Minutes of usage is expected to increase at 430 as against 417 QoQ.

Consolidated Q3 highlights

Excluding one offs of September quarter pertaining to favorable order by TDSAT, Q2 revenues stood at Rs 19,687.1 crore, EBITDA at Rs 6,100.8 crore and PAT at Rs 482.6 crore.

Analysts expect volume growth at around 3 percent for the quarter.

According to analysts, higher revenue per minute in Indian wireless business and some improvement in Africa margins offset by higher networking costs.

India wireless

Revenues are seen going up 3 percent to Rs 10,850 crore in December quarter from adjusted revenues of Rs 10,530.9 crore in September quarter.

EBITDA is expected to be at Rs 3,370 crore from Rs 3,193.7 crore during the same period. EBITDA margin is seen improving at 31 percent versus 30.3 percent QoQ.

Africa

Analysts expect stable quarter for Africa division. Revenues are likely to grow by 4 percent QoQ to USD 1,140 million.

EBITDA is seen going up to USD 314 million from USD 298 million and EBITDA margin is expected to improve at 27.5 percent as against 27.16 percent QoQ.