Views on Bharti Airtel 4QFY2014 results - Angel Broking

Views of Ms. Ankita Somani (Research Analyst - IT & Telecom, Angel Broking) on Bharti Airtel 4QFY2014 results:

"For 4QFY2014, Bharti Airtel reported broadly in line set of results. The weakness is Africa performance was offsetted by robust numbers from India Business which kept its momentum intact. Bharti's consolidated revenues grew by 1.3% qoq to Rs. 22,219cr. Revenues from domestic mobile services grew by 3.4% qoq to Rs. 12,039cr. KPI's of India mobile business remained good. Total network traffic grew 3.8% qoq to 265bn minutes. Overall RPM came in at 44.9 paise/min (flat qoq), ARPU stood at Rs. 196/sub/month (+0.8% qoq) and MOU grew by 0.7% qoq to 437min. Voice RPM was flat qoq. Data revenues grew strongly with data volumes growing by ~20% qoq but data realization per MB declined by 5.8% qoq due to reduction in data tariffs. Africa revenues declined by 1.7% qoq to US$1,145mn. EBITDA margin of Africa business went down by ~50bp to 25.3%. KPIs for Africa business were weak. Overall ARPU declined by 5% qoq to US¢5.5. Voice ARPU as well as MOU declined by 6% and 4% qoq. On consolidated level, Bharti's EBITDA margin increased by ~60bp qoq to 32.9%. Net profit came in at Rs. 9,616cr, up 58% qoq. Overall, the key surprise from the results were inline but Africa business continues to remain an overhang on the stock."

Shares of BHARTI AIRTEL LTD. was last trading in BSE at Rs.325.7 as compared to the previous close of Rs. 327.65. The total number of shares traded during the day was 201945 in over 9451 trades.

The stock hit an intraday high of Rs. 331 and intraday low of 322.15. The net turnover during the day was Rs. 66030491.

Source : Equity Bulls

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