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Target: ₹890
CMP: ₹773.70
Bharti Airtel Limited has reported consolidated revenue of ₹3,580 crore in Q3-FY23 as against ₹2,980 crore in Q3-FY22, a growth of 19.9 per cent. Consolidated net revenues, after netting off access costs, license fees and cost of goods sold, stood at ₹30,200 crore, up 22.1 per cent as compared to ₹24,700 crore in the corresponding quarter last year.
On profitability front, the company’s consolidated EBITDA margin stood at 51.5 per cent at ₹18,400 crore in Q3-FY23 as against 49.2 per cent at ₹14,700 crore in same quarter previous year, an improvement of nearly 230 basis points.
India business revenues for the quarter stood at ₹24,900 crore, up 19.4 per cent vis-à-vis ₹20,900 crorein the corresponding quarter last year.
Going ahead, the company plans to expand its diversified portfolio. It plans to expand to new 40,000 rural areas in India and further enhance its combined services (mobile, broadband, DTH, B2B) in existing top 150 cities through 5G rollout.
The company also plans to go live in 300 cities by March-23 and full urban coverage by Mar-24. On ARPU front, the company expects ARPUs to gradually improve to Rs.300 in medium term.
We continue to believe that momentum in revenue backed by continued growth in customer additions and improved margins support the growth prospects for the company in long term.
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