October 31, 2022 
Bharti Airtel posts quarterly revenues of Rs 34,527 crore – up 21.9% YoY, backed by strong and consistent performance delivery across the portfolio and crossing 500 Mn customers globally
o India business posts quarterly revenues of Rs 24,333 crore – up 22.3% YoY
o Mobile services India revenues up 24.8% YoY, led by continued 4G customer addition and increase in ARPU
o Airtel Business revenues up by 16.8% YoY, backed by robust demand for data and connectivity related solutions as well as emerging adjacencies
o Homes business continues to accelerate growth momentum, up 38.9% YoY led by strong customer
additions
o Digital TV continues to strengthen its market share
Consolidated EBITDA at Rs 17,721 crore; EBITDA margin at 51.3% – improvement of 184 bps YoY
o India business posts EBITDA of Rs 12,606 crore, EBITDA margin at 51.8%; up 224 bps YoY
Consolidated EBIT at Rs 8,762 crore; EBIT margin at 25.4% – improvement of 506 bps YoY
o India business posts EBIT of Rs 5,236 crore; EBIT margin at 21.5% – expansion of 639 bps YoY
Consolidated Net income (after Exceptional items) at Rs 2,145 crore; up by 89.1% YoY
Industry leading operational indicators showcasing strong business momentum
o 4G data customers up by 17.8 Mn YoY & 5.0 Mn QoQ, 64% of overall mobile customer base
o Mobile ARPU increased to Rs 190 in Q2’23 vs Rs 153 in Q2’22
o Mobile data consumption up by 19.6% YoY, consumption per customer at 20.3 GB per month
o Homes business crossed 5 Mn customer Milestone with 417 K customer net additions in Q2’23
o Digital TV customer base at 15.8 Mn in Q2’23, holding steady vs Q1’23
o Airtel Payments Bank continues to grow rapidly through customer engagement – increases monthly
transacting users by 60% YoY
Airtel 5G Plus goes live with launch in 8 cities, all of urban and key rural areas to be covered by March 2024
Airtel pays Rs 8,312 crores for 5G spectrum to DOT for 4 years – settled ahead of schedule to free up cash flow for 5G roll ou
Bharti Airtel announces consolidated results for the second quarter ended September 30, 2022
Highlights for the second quarter ended September 30, 2022
Consolidated
Overall customer base stands at ~501 million across 16 countries
Total revenues at Rs 34,527 crore, up 21.9% YoY
EBITDA at Rs 17,721 crore, up 26.4% YoY; EBITDA margin at 51.3%, expansion of 184 bps YoY
EBIT at Rs 8,762 crore, up 52.2% YoY; EBIT margin at 25.4%, expansion of 506 bps YoY
Net Income (before exceptional items) for Q2’23 at Rs 2,052 crore
Net income (after exceptional items) for Q2’23 at Rs 2,145 crore
Capex for the quarter at Rs 7,047 crore
India
India revenue at Rs 24,333 crore, up 22.3% YoY
EBITDA margin at 51.8%, up 224 bps YoY. EBIT margin at 21.5%, up 639 bps YoY
Customer base stands at ~ 364 million
Capex for the quarter at Rs 5,684 crore
Gurugram, India, October 31, 2022: Bharti Airtel Limited (“Bharti Airtel” or “the Company”) today announced its audited consolidated results for the second quarter ended September 30, 2022.
Q2’23 Performance:
The consolidated revenues for Q2’23 at Rs 34,527 crore grew 21.9% YoY. Consolidated mobile data traffic at 13,232 PBs in the quarter with a healthy YoY growth of 20.9%.
India revenues for Q2’23 at Rs 24,333 crore, increased by 22.3% YoY. Mobile revenues grew by 24.8% YoY on account of improved realisation as well as strong 4G customer additions during the year. ARPU for the quarter stood at Rs 190 as compared to Rs 153 in Q2’22 on the back of our continued focus on quality customers, feature phone to smartphone upgradation and data monetization.
We strengthened our leadership position in Postpaid segment with a customer base of 31.6 Mn (including IoT). We continue to gain strong share of the 4G customers in the market and added 17.8 Mn 4G data customers to our network over last year, an increase of 9.2% YoY. ARPU continues to be the best in industry, average data usage per data customer at 20.3 GBs/month and voice usage per
customer at 1,082 mins /month.
We rolled out additional ~8k towers in the quarter to further strengthen our network coverage and provide ubiquitous connectivity. Several initiatives have also been undertaken to improve Network quality – leveraging digital tools/probes to monitor and improve customer
experience and scaling up Vo–Wi–Fi adoption to improve indoor experience. We now have over 47 Mn customers using our Vo–Wi–Fi services.
Post a successful spectrum auction and a quick and seamless allocation by DoT, the country witnessed the launch of 5G services by Prime Minister Narendra Modi at the IMC 2022. Airtel became the first telecom operator in India to roll out 5G services with a launch in 8 cities. Eventually we plan to cover all of urban and key rural areas of India by March 2024. Airtel 5G Plus promises to
offer massive speeds, best voice experience, will work on all 5G smart phones and be kinder to the environment.
Homes business segment continues its strong momentum and delivers a revenue growth of 38.9% YoY, an outcome of continued acceleration on the back of growing need for reliable and consistent broadband in India. We added 417 K customers during the quarter to reach to a total base of 5.2 Mn. We continue to accelerate our rollouts on the back of innovative asset light local cable operator
partnership model, we are now live in 1060 cities through this model.
Airtel Business continues its numero uno position with 16.8% YoY revenue growth and widening the gap with its nearest competitor by leveraging the converged portfolio of Airtel and harvesting the rapidly increasing demand for data and connectivity related solutions. Our strategy of going both wide to penetrate more accounts as well as deep has led to continuous outperformance and market share expansion.
Revenue of Digital TV remained stable with customer base1 of 15.8 Mn at the end of the quarter. DTH business is showing early green shoots of recovery as an outcome of our strategy of simplifying pricing and offering converged propositions to win high value customers
We have been scaling our digital capabilities to deliver best–in–class experience and offering differentiated digital services to our customers. We have robust customer base of over 190 Mn MAUs across our key digital assets – Thanks, Xstream and Wynk. In our continuous endeavour to deliver additional value proposition to our customers through innovation, we launched Airtel Xsafe – an advanced home surveillance solution which allows customer to keep an eye on loved ones.
There are over 1.2 million retailers transacting and making payments every day on Mitra App. During the quarter, Airtel Payments Bank continued to expand rapidly with a strong total customer base of 151 Mn and highly engaged Monthly Transacting Users (MTU) base of over 50 Mn
In a statement, Gopal Vittal, MD and CEO, India & South Asia, said:
“We have delivered yet another quarter with competitive revenue growth and improved margins. Our consolidated revenue grew sequentially by 5.3% and EBITDA margin expanded to 51.3%. The consistency of our execution is driven by the strength and resilience of our portfolio. Our B2B and Homes business continued their strong growth momentum while Mobile ARPU expanded to 190 on the back of premiumization and deep customer understanding.
We are now rolling out 5G and are confident that Airtel 5G Plus will deliver the best experience in India while being kinder to the environment. I do believe that 5G technology has the potential of bringing tremendous innovation into India. At the same time we remain concerned about the low ROCE that our business delivers due to pricing that is the lowest in the world. Given the large
investments required to drive digital adoption in India we believe there is a need for tariff correction.”
