Bharti Airtel Ltd Q3FY21 consolidated PAT at Rs. 853.6 crore

BHARTI AIRTEL LTD. has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.26567 crores during the period ended December 31, 2020 as compared to Rs.25163.5 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.853.6 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.(763.2) crores for the period ended September 30, 2020.

The company has reported EPS of Rs.1.57 for the period ended December 31, 2020 as compared to Rs.(1.40) for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 26567 crs	₹ 25163.5 crs	5.58%
Net Profit	₹ 853.6 crs	₹ (763.2) crs	211.84%
EPS	₹ 1.57	₹ (1.40)	212.14%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.26567 crores during the period ended December 31, 2020 as compared to Rs.21650.3 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.853.6 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.(1035.3) crores for the period ended December 31, 2019.

The company has reported EPS of Rs.1.57 for the period ended December 31, 2020 as compared to Rs.(2.02) for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 26567 crs	₹ 21650.3 crs	22.71%
Net Profit	₹ 853.6 crs	₹ (1035.3) crs	182.45%
EPS	₹ 1.57	₹ (2.02)	177.72%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.75427.4 crores during the 9 months period ended December 31, 2020 as compared to Rs.62373.7 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.(15842.7) crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.(26946.2) crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.(29.05) for the 9 months period ended December 31, 2020 as compared to Rs.(54.25) for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 75427.4 crs	₹ 62373.7 crs	20.93%
Net Profit	₹ (15842.7) crs	₹ (26946.2) crs	-41.21%
EPS	₹ (29.05)	₹(54.25)	-46.45%

The consolidated revenues for Q3'21 at Rs 26,518 crore grew 24.2% YoY. Consolidated mobile data traffic at 8,191 PBs in the quarter with a healthy YoY growth of 52.9%.

India revenues for Q3'21 at Rs 19,007 crore increased by 25.1% YoY. Mobile revenues grew by 32.4% YoY on account of the improved realizations as well as strong customer addition. ARPU for the quarter came in at Rs 166 as compared to Rs 135 in Q3'20, an outcome of our focus on acquiring quality customers as well as secular upgrading of customers to data.

The company continues to garner a strong share of the 4G net ads in the market. 4G data customers1 increased by 33.8% YoY to 165.6 Mn compared to the previous year. Over the last 4 quarters, the company has added ~42 Mn 4G customers to its network. ARPU continues to be the best in industry - average data usage per data customer at 16.4 GBs/month; while voice usage was at 1,027 mins/customer/month.

The company continues to see strong traction in its post-paid business also and added ~700K post-paid customers this quarter. We continue to invest ahead of the curve to create capacities and provide a brilliant experience to our customers. Several initiatives have also been undertaken to improve Network quality - leveraging digital tools/probes to monitor and improve customer experience, scaling up Vo-Wi-Fi adoption to improve indoor experience. We now have over 18 Mn customers using our Vo-Wi-Fi services.

Homes business segment witnessed a revenue growth of 2.3% YoY with highest ever customer additions of ~215K during the quarter to reach to a total base of 2.79 Mn. We re-calibrated our offering and launched Xstream bundles with content and unlimited internet to accelerate penetration. The company continued to scale up the LCO partnership model to expand its footprint in non-wired cities, extending the model to over 120 cities.

Airtel Business continues to accelerate its momentum with 9.2% YoY growth, driven by demand for connectivity and solutions across global business and domestic businesses. The company continues to expand and grow adjacent verticals such as Data centres, Cloud, Cyber security, Customer relationship management platforms, video-conferencing amongst others.

Digital TV witnessed a growth of 5.8% YoY on an underlying2 basis, on the back of strong customer additions of 485K during the quarter. We continue to make progress through innovative propositions and differential experience to accelerate the business growth.

The Digital services offerings of Airtel continue to see robust growth. MAUs increased to over 190 Mn across our key digital assets - Thanks, Wynk, Xstream. There are over 1.2 million retailers transacting and making payments every day on Mitra App. Online recharges continue to contribute around 50% of overall revenues.

Consolidated EBITDA witnessed an increase of 38.2% YoY to Rs 12,178 crore in Q3'21. This led to an improvement in EBITDA margin from 41.3% in Q3'20 to 45.9% in Q3'21. Incremental EBITDA margins across businesses remained healthy, with mobile services EBITDA improving from 35.9% in Q3'20 to 43.7% in Q3'21.

Consolidated EBIT increased by 134.9% YoY to Rs 4,665 crore. The Consolidated Net loss before exceptional items for the quarter stands at Rs 298 crore. The Consolidated Net income after exceptional items for the quarter stands at Rs 854 crore.

Gopal Vittal, MD and CEO, India & South Asia, said: "Despite the unprecedented volatility that we have confronted through the year, we delivered another strong performance this quarter. This consistency in performance was across every part of our portfolio, as reflected in market share growth across all our business segments. This has been made possible due to our agility, the continued re-orientation of our business model and our relentless focus on what truly matters - serving our customers. The main highlight of the quarter was the ~13 Million 4G customers we added in our Wireless business. As a result, we grew our revenues by ~25% over the same period last year and margins expanded.

We are also proud to have become India's first Telco to have demonstrated a LIVE 5G service over a commercial network in Hyderabad city. This reaffirms our strategy to win with quality customers."

Shares of BHARTI AIRTEL LTD. was last trading in BSE at Rs.608.8 as compared to the previous close of Rs. 599.65. The total number of shares traded during the day was 1388745 in over 27466 trades.

The stock hit an intraday high of Rs. 622.4 and intraday low of 599.55. The net turnover during the day was Rs. 851015202.

Source : Equity Bulls

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