Bharti Airtel Ltd reports consolidated PAT of Rs. 759.2 crore in Q4FY21

BHARTI AIRTEL LTD. has reported financial results for the period ended March 31, 2021.

Financial Results (Q4 FY20-21) - QoQ Comparison

The company has reported total income of Rs.25831.2 crores during the period ended March 31, 2021 as compared to Rs.26567 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.759.2 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.853.6 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.1.39 for the period ended March 31, 2021 as compared to Rs.1.57 for the period ended December 31, 2020.

Financials	Q4 FY20-21	Q3 FY20-21	% Change
Total Income	₹ 25831.2 crs	₹ 26567 crs	-2.77%
Net Profit	₹ 759.2 crs	₹ 853.6 crs	-11.06%
EPS	₹ 1.39	₹ 1.57	-11.46%

Financial Results (Q4 FY20-21) - YoY Comparison

The company has reported total income of Rs.25831.2 crores during the period ended March 31, 2021 as compared to Rs.23838.5 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.759.2 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.(5237) crores for the period ended March 31, 2020.

The company has reported EPS of Rs.1.39 for the period ended March 31, 2021 as compared to Rs.(9.69) for the period ended March 31, 2020.

Financials	Q4 FY20-21	Q4 FY19-20	% Change
Total Income	₹ 25831.2 crs	₹ 23838.5 crs	8.36%
Net Profit	₹ 759.2 crs	₹ (5237) crs	114.5%
EPS	₹ 1.39	₹ (9.69)	114.34%

Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.101258.6 crores during the 12 months period ended March 31, 2021 as compared to Rs.86212.2 crores during the 12 months period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.(15083.5) crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.(32183.2) crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.(27.65) for the 12 months period ended March 31, 2021 as compared to Rs.(63.41) for the 12 months period ended March 31, 2020.

Financials	Year Ended FY20-21	Year Ended FY19-20	% Change
Total Income	₹ 101258.6 crs	₹ 86212.2 crs	17.45%
Net Profit	₹ (15083.5) crs	₹ (32183.2) crs	-53.13%
EPS	₹ (27.65)	₹(63.41)	-56.39%

Q4'21 Performance:

The consolidated revenues at Rs 25,747 crore grew 17.6% YoY on a comparable basis and 11.9% YoY on a reported basis. Consolidated mobile data traffic at 8,919 PBs in the quarter with a healthy YoY growth of 43.2%.

India revenues at Rs 18,338 crore increased by 17.5% YoY on a comparable basis and 9.6% YoY on a reported basis. Mobile revenues grew by 19.1% YoY on comparable basis on account of the improved realizations as well as strong customer addition. ARPU continues to be best in industry, Q4'21 at Rs 145 vs Rs 135 in Q4'20 on a comparable basis, an outcome of the company's focus on acquiring quality customers as well as up-trading and up-gradation of customers to 4G.

The company continues to garner a strong share of the 4G net ads in the market. 4G data customers2 increased by 31.5% YoY to 179.3 Mn, an addition of ~ 43.0 Mn 4G customers over the last 4 quarters., Average data usage per data customer at 16.4 GBs/month; while voice usage was at 1,053 mins/customer/month.

The company continues to see strong traction in its post-paid business also and added ~630K post-paid customers this quarter and ~1.9 Mn over the last 4 quarters. We rolled out additional ~8,300 towers in the quarter, to further expand and strengthen network coverage, ensuring a brilliant experience to our customers. Airtel fortified its strong spectrum portfolio with the acquisition of 355.45 MHz spectrum across Sub GHz, mid band and 2300 MHz bands for Rs. 18,699 crores (on bid value) in the latest spectrum auctions. With this, Airtel has secured Pan India foot print of Sub GHz spectrum that will help improve its deep indoor and in building coverage in every urban town. 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. The company now has over 23 Mn customers using its Vo-Wi-Fi services.

Homes business segment witnessed a revenue growth of 5.0% YoY. Company's focus on re-calibrated offerings and launch of Xstream bundles, with content and unlimited internet, to accelerate penetration has resulted in highest ever net addition of ~ 274K to reach to a total base of 3.07 Mn. The company has also been rapidly expanding its reach to non-wired cities via an innovative LCO partnership model, which is now live in more than 200 cities.

Airtel Business continues to accelerate its momentum with 9.7% 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 1.5% YoY on an underlying3 basis. The company continues 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 200 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. During the quarter, the company launched Airtel Ads, Airtel IOT etc. widening its bouquet of digital offerings.

Consolidated EBITDA witnessed an increase of 28.9% YoY to Rs 12,583 crore in Q4'21. This led to an improvement in EBITDA margin from 42.4% in Q4'20 to 48.9% in Q4'21. EBITDA margins across businesses remained healthy, with mobile services EBITDA improving from 39.2% in Q4'20 to 47.5% in Q4'21.

Consolidated EBIT increased by 75.5% YoY to Rs 5,048 crore. The Consolidated Net lncome before exceptional items for the quarter stands at Rs 322 crore. The Consolidated Net income after exceptional items for the quarter stands at Rs 759 crore.

The Net Debt-EBITDA ratio (annualized) and including the impact of leases as on March 31, 2021 is at 2.95 times as compared to 3.19 times as on March 31, 2020. Excluding pending AGR dues, the Net Debt-EBITDA ratio (annualized) is at 2.46 times as on March 31, 2021.

Gopal Vittal, MD and CEO, India & South Asia, said: "Our services are the digital oxygen that the country needs in this challenging time as we experience a vicious second wave of COVID-19. I am grateful to our people who are doing all they can to strengthen our network experience and serve our customers braving massive odds. It is this relentless focus on customer obsession that has allowed us to deliver another consistent quarter in terms of performance. Our mobile revenues grew at 19.1% YoY backed by 13.7 Mn 4G customer additions. We are seeing strong momentum in our homes business with 274k net adds. The Enterprise segment delivered double digit growth. Our digital assets continue to scale and we are beginning to see strong traction in monetisation of these assets."

Shares of BHARTI AIRTEL LTD. was last trading in BSE at Rs.549.55 as compared to the previous close of Rs. 560.55. The total number of shares traded during the day was 613503 in over 12404 trades.

The stock hit an intraday high of Rs. 567.9 and intraday low of 546. The net turnover during the day was Rs. 338628072.

Source : Equity Bulls

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