DSIJ Mindshare

Bharti Airtel's Q2 profits beat estimates; Jio effect not yet significant

World’s fifth and India’s largest telecom service provider has posted a good second quarter earnings post market hours on Tuesday, October 25. Telecom operator Airtel’s consolidated profit for quarter ending September 30 has fallen marginally by one per cent year-on year to Rs 1460.7 crore from Rs 1462 crore.

Revenue during the quarter has slipped 3.5 per cent to Rs 24,651.5 crore compared with Rs 25,546.5 crore in previous quarter, which has marginally missed expectations.

Consolidated EBITDA has fallen by 1.3 per cent year-on-year to Rs 9,466.2 crore but margin has expanded by 90 basis points to 38.4 per cent in Q2, which has surpassed analysts' estimates of Rs 9,250 crore and 36.3 per cent, respectively. Margin expansion has continued for fourth straight quarter, which augurs well for the company despite many headwinds in terms of competitive pressure.

India revenue in Q2 has declined 2 percent sequentially to Rs 14,735.3 crore due to seasonality. EBITDA has fallen 2.1 per cent to Rs 6,249.2 crore but margins have been maintained at 42.4 percent QoQ.

Pricing pressure was seen in both voice and data businesses with voice revenue per minute falling 3.5 percent and data revenue per minute down 10 percent sequentially.

Mobile data revenue during the quarter has grown by 19.2 percent to Rs 4,536.3 for the quarter in review.

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