Comments
Increased usage for data services and higher voice tariffs have enabled Bharti Airtel to post an 89 per cent rise in its consolidated profit to ₹962 crore during the fourth quarter ended March 2014. The company had reported net profit of ₹509 crore in the same period last year.
The consolidated revenues for the fourth quarter at ₹ 22,219 crore grew by 13.5 per cent over the corresponding quarter last year. Mobile data revenues at ₹1,900 crore grew by 93.4 per cent Y-o-Y, accounting for more than one-third of the growth.
Bharti had been reporting declining profit for nearly four years as the Indian telecom market was hit by regulatory issues and heightened competition. But with a number of operators forced to exit and more clarity in policy making, telecom sector is set for a rebound.
India revenues registered a growth of 11.6 per cent. Mobile voice realisation in India improved to 37.07 paise per minute (up 2.08 paise ).
The average revenue per user increased to ₹162 a month compared with ₹159 earlier. Airtel’s 3G user base now stand at over 10 million compared with 6.3 million a year ago. Non-voice revenue now accounts for 17.3 per cent of the total income from mobile services. Data usage per user has gone up 48 per cent to 277 MB.
Full year performance Annual consolidated revenues at ₹85,746 crore grew by 11.5 per cent over the previous year, mainly driven by mobile data (+96.3 per cent), DTH (+27.5 per cent), Airtel Business (+19.1 per cent) and South Asia (+41.2 per cent). Net income for the year increased by 21.8 per cent to ₹2,773 crore.
The company’s consolidated net debt as on March 31, 2014 was $10,074 million ($10,729 million).
The board has proposed a final dividend of ₹1.80 per share (face value of ₹ 5 per share) for the financial year.
In a statement, Gopal Vittal, MD and CEO, India & South Asia, said: “The year has ended on a satisfying note, both in operational and financial terms. Network and spectrum investments, a refreshed IT strategy, innovative service platforms and an energised organisation will enable sustained growth in India and South Asia.”
Airtel share price closed 2.75 per cent lower at ₹335.15 at close on the Bombay Stock Exchange on Tuesday.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.