Airtel revenue up 20% to Rs 71,451 crore; profit down 30%

Telecom Lead India: Bharti Airtel has posted Rs 71,451 crore
revenue in fiscal 2011-12, up 20 percent compared with the same period last
fiscal.

 

India & South Asia revenues increased 11.6 percent to Rs
51,893 crore.

 

Africa revenues grew 43.7 percent to $4,137 million.

 

Overall customer base stands at 252 million, across 20
countries.

 

Airtel posted 30 percent drop in profit to Rs 4,259 crore
in fiscal 2011-12 against Rs 6,047 crore in FY 2011.

 

The substantial decrease in net profit was due to several
cost implications.

 

In Q4, total revenues increased 15 percent y-o-y to Rs 18,729
crore.

 

Bharti Airtel’s income in Q4 from India & South Asia grew
10.5 percent to Rs 13,421 crore.

In the fourth quarter, Africa revenues were $1,071 million,
up by 15.9 percent y-o-y.

 

Revenue growth in the fourth quarter was fuelled by
increased customer additions and strong minutes growth in India.

Despite a national strike for 9 days in Nigeria, Africa
revenues continued its growth trend.

 

Consolidated EBITDA margin was sustained at 33.3 percent
benefitting from scale and cost efficiencies.

 

The consolidated net income at Rs 1,006 crore against Rs 1,401
crore in Q4 was impacted by higher costs on account of 3G license fee
amortisation (Rs 106 crore), 3G interest costs (Rs 84 crore), forex fluctuation
losses (Rs 132 crore) and tax provisions (Rs 198 crore).

 

Airtel attributed the 11.6 percent revenue growth for the
full year in India & SA to stability in pricing accompanied by robust
growth in customer numbers.

 

Consolidated EBITDA margins for the full year dropped to
33.2 percent from 33.7 percent in FY 2011).

 

Africa improved EBITDA margins to 26.5 percent from 21.9
percent in FY 2011.

 

Airtel said costs for full year include higher costs on
account of 3G license fee amortisation (Rs 593 crore), 3G interest costs (Rs 421
crore), forex fluctuation losses (Rs 422 crore) and tax provisions (Rs 481
crore).

I am pleased that the year has ended with the Company’s
customer base crossing 250 million across twenty countries, the twentieth
country being Rwanda. Our launch of 4G LTE, the first in India, is testimony to
our commitment to the broadband agenda. The recent regulatory developments in
India will have significant implications on the future of telephony and
broadband, as well as India’s global competitiveness. The entire industry looks
to the Government for a fair, transparent and sustainable telecom regime,” said
Sunil Bharti Mittal, chairman & managing director, Bharti Airtel.

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