Consolidated revenues at Rs 23,939 crore up 15.4% YoY (15.8% on an underlying basis)
Consolidated EBITDA at Rs 10,639 crore; EBITDA margin at 44.4%
Consolidated Profit before tax and exceptional items at Rs 372 crore, up 124% YoY
India revenues at Rs 17,589 crore up 14.6% YoY (15.1% on an underlying basis)
Mobile services India revenues up 18.5% YoY – with best in the industry operating and engagement metrics – ARPU at Rs 157 vs Rs 129 in Q1’20
4G data customers up by 43 Mn through the year – a growth of 45.3% YoY to reach 138.3 Mn in Q1’21
Strong Mobile data traffic growth of ~72.7% YoY – Highest ever Data usage per sub at 16.3 GBs/month;
Airtel Business witnessed a revenue growth of 9.2% YoY; while DTH & Homes business continued to remain steady
Company continued to render exceptional services to allow its customers and businesses to remain connected during the unprecedented COVID-19 pandemic
Undertook various humanitarian measures to help society and nation tide over this crisis
Bharti Airtel announces consolidated Ind AS results for the first quarter ended June 30, 2020Effective April 1, 2019, the Company adopted Ind AS 116 “Leases”. The results for the quarter ended June 30, 2020 includes the impact of Ind AS 116. The term ‘Underlying’ refers to impact of accounting policy change deferring activation, installation & rental revenue over the life of the customer under DTH business in FY’20.
Highlights for the first quarter ended June 30, 2020
Consolidated
•Overall customer base stands at ~420 million across 16 countries•Total revenues at Rs 23,939 crore, up 15.4% YoY (underlying growth of 15.8% YoY)
•EBITDA at Rs 10,639 crore, up 25.3% YoY; EBITDA margin at 44.4%, up 3.5 p.p. YoY•EBIT at Rs 3,328 crore, up 107.4% YoY; EBIT margin at 13.9%, up 6.2 p.p. YoY
•Net loss (before exceptional items) for Q1’21 at Rs 436 crore, Net loss (after exceptional items) for Q1’21 at Rs 15,933crore
•Total Capex spend for the quarter of Rs 3,975 croreIndia & Africa•India revenues up 14.6% YoY (15.1% on an underlying basis); EBITDA margin at 44.3%, up 4.8 p.p. YoY. EBIT margin at10.0%, up 8.4 p.p. YoY
•Africa revenues (in constant currency) up 13% YoY, EBITDA margin at 44.0%, up 0.6 p.p. YoY, EBIT margin at 24.7%, up0.2 p.p. YoY
New Delhi, India, July 29, 2020: Bharti Airtel Limited (“Bharti Airtel” or “the Company”) today announced its audited consolidated Ind AS results for the first q uarter ended June 30, 2020.Q1’21 Performance:The consolidated revenues for Q1’21 at Rs 23,939 crore grew 15.4% YoY on reported basis (15.8% YoY on an underlying basis). Consolidated mobile data traffic at 7,019 PBs in the quarter has registered a healthy YoY growth of 73.5%.
India revenues for Q1’21 at Rs 17,589 crore have increased by 14.6% YoY on a reported basis (15.1% YoY on an underlying basis). Mobile revenues have witnessed a YoY growth of 18.5%. ARPU for the quarter is at Rs 157 as compared to Rs 129 in Q1’20 led by full impact of our tariff hikes in the previous quarter alongside our continuing focus on quality customers. 4G data customers have increased by 45.3% to 138.3 Mn from 95.2 Mn in the corresponding quarter last year while traffic has increased to 74.09 PB/day vs 42.90 PB/day in the corresponding quarter last year. Engagement parameters continue to be best in industry – average data usage per data sub at 16.3 GBs/month; while voice usage was at 994 mins/sub/month.
Airtel Business continues to accelerate its revenue growth momentum with a 9.2% YoY growth led by growth across all its segments – connectivity revenues from global business, domestic enterprise business besides solutions such as data centres, cloud, IOT. In the new world order of work from home post COVID-19, the company remains excited about this area of business and has continued to invest to ensure strong growth.
Digital TV revenue witnessed a growth of 9.3% YoY on an underlying basis, on the back of strong customer additions growth of 5.1% to 16.8 Mn from 16.0 Mn in the corresponding quarter last year. The rollout of the new tariff order also helped Airtel in improving its market share and revenue growth. Effective March 1, 2020 onwards, the company has implemented new guidelines of NCF (Network Carriage Fees) under the new tariff order.
Homes business segment continues to remain steady and witnessed a revenue growth of 1.4% YoY. Although on a YoY basis, customer base increased by 4.5%, growth was impacted during the quarter on account of closure of several commercial establishments owing to COVID. The company continues to invest in this segment with all new roll-outs fully being on fibre. In order to augment its footprint across the length and breadth of the country; the company continues to capture demand in un-wired cities through a LCO partnership model which is now live in 14 cities.
Supreme Court ruling on AGR matter: Pursuant to the judgment of the Hon’ble Supreme Court of India on October 24, 2019 (‘Court Judgment’) including subsequent supplementary judgments, and in the absence of any potential reliefs, the Group provided for Rs. 368,322 Mn for the periods upto March 31, 2020 on the basis of demands received and the period for which demands have not been received having regard to assessments carried out in earlier years and the guidelines / clarifications in respect of License Fees and Spectrum Usage Charges (‘AGR Provision’). The Hon’ble Supreme Court on June 11, 2020 directed the telecom operators to file their proposals, as to the time frame required by them to make the payment and what kind of securities, undertakings and guarantees should be furnished to ensure that the Adjusted Gross Revenue (‘AGR’) dues are paid.
In a statement, Gopal Vittal, MD and CEO, India & South Asia, said: “We are going through an unprecedented crisis caused by COVID. Despite this, our teams have served the country well and kept our customers connected. Data traffic growth surged by ~73% YoY even as 4G net additions slowed down to 2 Million caused by supply chain shocks in the device eco system. Revenues grew by 15% Y-o -Y and performance was satisfactory across all segments. Our flagship “War on Waste” program, helped improve EBITDA margin by 1.6% over the previous quarter. To serve our customers even better, we have launched a company-wide program to improve our customer experience. We continue to invest in the best of emerging technologies to make our networks future ready.We have made rapid strides in our digital business, with nearly 155 million monthly active users across Airtel Thanks, Wynk, Xstream and our payments platforms. Today, 60 percent of Airtel’s entire business goes through its digital channels. We are most excited about the string of partners we are attracting in order to build greater stickiness and ultimately growth from our digital assets.”
