Shares of Bharti Airtel closed at an all time high of ₹611.90 before the Q3 results were announced. Bharti Airtel has announced a consolidated net profit of ₹853.6 crores. Airtel had declared a net loss of ₹763.2 crores last quarter. Airtel’s revenue grew by 6% quarter on quarter (QoQ) to ₹26,517.8 crores. The company has beaten all street estimates and posted very strong numbers.
The company’s Average Revenue Per User(ARPU) in the quarter was ₹166, as compared to ₹162 in the previous quarter. Airtel reported a one time loss of ₹4,559.9 crores. This was most likely related to reassessment of some contractual and regulatory levies and network asset impairment.
Message from CEO
“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 business segments,” Gopal Vittal, MD and CEO, India & South Asia said.
“The main highlight of the quarter was the around 1.3 crore 4G customers we added in Wireless business. As a result, we grew revenues by around 25 percent over the same period last year and margins expanded,” he added about Airtel Q3 results.
The consolidated customer base of the company increased by 4.1 percent to over 45.79 crore in Q3FY21, compared to 43.98 crore users seen at the end of September quarter. Total minutes on network have grown to 1,01,934.2 crore minutes in Q3FY21, up 7.1 percent from 95,159.7 crore minutes in previous quarter.
The growth has been quite good and it spells good news for the teleco. As seen by the share price rise on the NSE, several investors are upbeat about the prospects of the company.
The question remains whether Airtel would remain a challenger to the throne or would it claim the title of the Country’s Largest Teleco.