Bharti Airtel shares gained by 0.26%, a day after it announced its June quarter results.
For the quarter, telecom provider Bharti Airtel posted revenues of Rs 37,440 crore, up by 14.1 percent YoY. Consolidated EBITDA also saw a 18.9 percent year-on-year increase to Rs 19,746 crore, leading to an improvement in EBITDA margin from 50.6 percent in the first quarter of FY23 to 52.7 percent for the same period.
Average Revenue Per User (ARPU) for the June quarter of FY24 also increased by 3.6 percent from Rs 183 in Q1 of FY23. The telecom operator registered profit at Rs 1,612.5 crore for quarter ended June FY24, falling 46.4 percent over previous quarter. This was impacted by foreign exchange loss of Rs 3,416 crore. Analysts at Morgan Stanley maintained an overweight call and a Target of Rs 870.
At 9:30 am, the share volume was 1,062,362, lower than the 20 day average of 4,809,345.
In the postpaid segment, Airtel added 0.8 million customers in Q1 to reach a customer base of 40.4 mn. The overall customer base currently stands at approximately 529 million customers across 16 countries.
Revenue from Airtel Africa (in constant currency) also grew by 20.4 percent YoY with a customer base of 143.1 million. The capex for the quarter in the continent stood at Rs 1,150 crore.
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