Result Analysis:Bharti Airtel Limited Result Update Q2FY22
Particulars (In Rs. Cr.) Q2FY22 Q1FY22 Q2FY21 QoQ % YoY%
Revenue from Operations 28326.4 26,853.60 25060.4 5.48% 13.03%
Other Income 108.8 209.8 103.1 -48.14% 5.53%
Total Income 28435.2 27063.4 25163.5 5.07% 13.00%
Network Operating Charges 6178.8 5797.3 5419.8 6.58% 14.00%
Employee Benefit Expenses 1101 1034.5 1017.2 3.35% 18.53%
Other Expenses 7236.10 7041.50 7556.70 2.76% -4.24%
EBITDA 13810.50 12980.30 11066.70 6.40% 24.79%
Finance Cost 3964.1 4225.7 3791.4 -6.19% 4.56%
Depreciation 8247.2 7713.7 7286.2 6.92% 13.19%
Profit After Tax 1134.00 283.50 -763.20 300.00% N.A
EBITDA Margin 48.75% 48.34% 44.16% 41 459
PATM (%) 3.99% 1.05% N.A 294.00 N.A

Result Highlight: 

  • Consolidated Revenue rose 5.48% QoQ and 13.03% YoY to Rs 28326.4crore (Street Estimation: Rs 27,960 Cr)

  • EBITDA Margin expanded to 48.75% from 48.34% last quarter.

  • Net profit rose 300% to Rs 1134 crore for the September quarter compared with Rs 283.50 crore in the last quarter.( Street Estimation- Rs 710 Crore)

  • During the quarter ended September 30, 2021, net gain on account of transfer of spectrum right to another telecom operator of Rs. 722.1 Crore. Tax charge due to above exceptional items of Rs. 181.7 Crore is included under tax expense. As a result, the overall net exceptional gain (after tax) is Rs. 540.4 Crore.

  • Mobile services India revenues up 20.3% YoY on comparable basis on account of continual growth in 4G customer base and increase in ARPU

  • Airtel Business revenues up by 11.5% YoY backed by strong demand for integrated suites of services across connectivity, collaboration, CPaaS, Data center, cloud and security solutions

  • Homes business continues to demonstrate strong double digit revenue growth, up 21.3% YoY.

  • Digital TV revenue up by 5.7% YoY, continues to strengthen market standing.

  • 4G customers up by 3.99 Crore YoY & 0.81 Crore QoQ to reach 19.25 Crore. Mobile ARPU increased to Rs 153 in Q2FY 22 vs Rs 143 in Q2 FY21 on comparable basis. Mobile data consumption up by 47.5% YoY, monthly data consumption per customer at 18.6 GB

  • Airtel Payments Bank turned profitable during the quarter.

  • Bharti Airtel will opt for the four-year moratorium on payment of AGR and spectrum dues, estimated to free up to Rs 40,000 crore in cash for the company.

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