Airtel
Bharti Airtel Limited declared consolidated revenues of Rs 21,324 crore, up by 10% year on year, for the quarter ended September 30, 2013. India revenues are up to Rs 14,079 crore from Rs 13,271 crore in the last sequential quarter. Total revenue from telemedia services increased 9% year on year to Rs 975.7 crores, from from Rs 894 crores in Q2-FY13.

Mobile voice realisation in India improved by 1.31 p to 36.74 p on a YoY basis from 35.43 p in Q2 FY-14, which is probably because of a rate hike that Airtel has apparently taken during the quarter. Data usage has grown significantly for Airtel, and consolidated mobile data revenues (taking into account all geographies) have doubled.

airtel-q2-fy14

Financials

– The continued depreciation of the Indian Rupee has resulted in forex restatement and derivative losses of Rs 342 crore up from Rs 25 crore loss in same quarter a year-ago. Consequently, the consolidated net income reduced to Rs 512 crore from Rs 721 crore from Q3-FY13. Consolidated Operating Free Cash Flows for the quarter increased by 117.1% YoY to Rs 4,693 crore.
– International revenues grew by 17.9% YoY and 18.3% QoQ in INR terms with Africa growing by 16.1% YoY & 18.5% QoQ while South Asia grew by 54.4% YoY & 16.0% QoQ. Net Revenue in Africa has grown by 20.7% YoY in INR terms.
– Consolidated EBITDA grew by 15.1% YoY at Rs 6,832 crore with margin expanding to 32.0% from 30.6% in the corresponding quarter last year.
– Net debt has reduced to $9,697 million resulting in the Net Debt to EBITDA ratio (USD terms) improving to 2.18 times as compared to 2.59 times at the end of Q3-FY13.
 Profit before tax before exceptional items increased 1.8% to Rs 1,446.8 crores as compared to Rs 1,421 crores in the corresponding quarter last year.

Subscribers

airtel-q2-fy14-kpi

At the end of Q3-FY14, Airtel had 280.1 million connections globally consisting of 268.2 million mobile, 3.3 million Telemedia and 8.6 million digital TV connections. The total connection base increased by 6.7% compared to the corresponding quarter last year. Total minutes of usage on the network were 297.9 billion an increase of 8.4% from corresponding quarter last year.
– In India, Airtel has 193 million connections an increase of 1% from the last quarter with a monthly churn of 3.2%.
ARPU reduced 4% from Rs 200 to Rs 192 this quarter. Voice ARPU reduced by 3%.
–  Share of messaging and VAS as share of mobile revenues reduced from 8.2% to 6.7%  QoQ. At the same time data as share of mobile revenue increased from 7.4% to 9.2%.

Telemedia

airtel-q2-fy14-telemedia

Africa

Net additions increased by 349% from 485,000 to 2.2 million QoQ. In this market APRU increased by 5% and voice ARPU increased by 4% .
– Revenue increased by 2% YoY from $1 billion to $1.1 billion. Revenues from Africa forms 94% of Airtel’s international revenue. Operating cash flow meanwhile, increased from 88 million to 147 million YoY, an increase of 68%.

– Airtel money has rolled out in 17 countries in Africa
– A series of data programs have been launched under a new band Airtel Internet

Airtel Money in India

Airtel, through its fully owned subsidiary Airtel M Commerce Services Limited (AMSL), tied-up with North Bihar Power Distribution Company Limited (NBPDCL) to offer mobile-based electricity bill payments through Airtel money across 21 districts of North Bihar.

Qualcomm Acquisition

Airtel acquired an additional 42.45% stake in the four Indian broadband wireless access (BWA) entities of Qualcomm thereby raising total stake in the entity to 93.45%.

Bangladesh

The company launched the high capacity terrestrial optical fiber link between Bangladesh and India to improve voice and data connectivity. During the quarter, it also acquired 5 MHz of 3G spectrum in Bangladesh through an auction process conducted by the Government at a price of $105 Mn.