AirtelUpdates: added tables and info from quarterly report

Bharti Airtel Limited reported a net profit of Rs 610 crore, up 115% from Rs 284 crore reported for the same quarter last fiscal year, on consolidated revenues of Rs 21,939 crore.

Revenues were up by 13.3% year on year, for the quarter ended December 31st, 2013, led by a 105% increase in total Mobile Internet revenues, which increased, at a consolidated (Africa, India, South Asia) level to Rs 1736 crore, and contributed more than 1/3rd of Airtel’s overall incremental revenue. Airtel’s data customer base in India increased by 31.2% year on year to 54.4 million, and there was a 54.4% increase in usage per customer. This led to a 97% increase in total data traffic, as compared to the same quarter last year. Mobile ARPU for Airtel increased by Rs 9.7 to Rs 195.

India

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– Revenue from mobile services during the quarter was Rs 11,644.6 crore, up 8.8% from Rs 10,699.4 crore in the corresponding quarter last year. Thhe company said that sequential growth of 3.4% in consumer revenue during this quarter reflects the sustained growth momentum in the current year, but the overall reported revenue growth of the Mobile segment is moderated “due to a tactical reduction in low margin fiber connectivity business.”

– EBITDA during the quarter increased by 27.3% to Rs 3,974.8 crore as compared to Rs 3,121.9 crore in the corresponding quarter last year. Consequently, EBITDA margin significantly improved to 34.1% during the quarter as compared to 29.2% in the corresponding quarter last year.

– EBIT during the quarter was Rs 23,102 Mn as compared to Rs 15,219 Mn in the corresponding quarter last year. Improved operational performance also lifted EBIT margin during the quarter to 19.8% as compared to 14.2% in the corresponding quarter last year.

– The company rolled out its 3G services in Kohima, Nagaland during the quarter.

– DTH Revenues for the company increased by 25.8%, and Airtel business grew by 13.9% year on year.

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– Total minutes on network increased by 5.9% to 255 Bn as compared to 240.8 Bn in the corresponding quarter last year.
– Mobile voice realization rate increasing by Rs 0.0196 to Rs 0.3713 from Rs 0.3517 for the same quarter last fiscal. At the same time, minutes of use increased by 5.9% year on year.

 

Telemedia

airtel-q3-fy14-india-telemedia

– Operating in 87 cities with 3.36 Mn customers, out of which approximately 1.455 M broadband (DSL) customers, representing 43.4% of the total Telemedia customers.
– 30% of Airtel’s broadband base is subscribed to speeds of 4 Mbps and above.
– Telemedia revenues were Rs 986.9 crore, up from Rs 893.8 crore last year.
– EBITDA for the quarter was lower by 4.3% to Rs 357.4 crore compared to Rs 373.5 crore in the corresponding quarter last year. EBITDA margin for this segment was 36.2% during the quarter.

Digital TV Services
– 8.8 M customers, an increase of 11.6% as compared to corresponding quarter last year.
– Revenues were up 25.8% to Rs 538.4 crore from Rs 428 crore in the corresponding quarter last year.
– EBITDA for the quarter increased to Rs 97 crore as compared to Rs 14.7 crore in the corresponding quarter last year.

Airtel Business
– Revenues were up 13.9% to Rs 1619.5 crore from Rs 1421.9 crore.
– EBITDA was Rs 413.9 crore, up 92.1% from Rs 215.4 crore
– The increase in EBITDA during the quarter was also helped by a one-time settlement with other carriers and bad debt recoveries from customers.
– During the quarter, the Company also tactically reduced the lower margin voice business.

International

Africa

– Revenue for the quarter was $1,165 Mn as compared to $ 1,133 Mn in the corresponding quarter last year, up 2.8%.
– EBITDA during the quarter stayed stable at $300 Mn as compared to the corresponding quarter last year.

– An aggregate customer base of 68.3 M, with 1.9 M net additions.
– Total minutes on network during the quarter were 28.3 Bn as compared to 26.2 Bn in the corresponding quarter last year, a growth of 8.0%.
– Voice ARPU during the quarter was sustained at $4.7, compared on a sequential quarter basis.
– Mobile voice pricing in Africa remained stable at $0.0331 per minute, and overall ARPU improved to $ 5.8. Growth came back to the Nigeria market, one of Airtel’s key markets in Africa.

– Mobile data revenue grew by 92.4% to $85.6 Mn during the quarter as compared to $ 44.5 Mn in the corresponding quarter last year. Mobile data revenue now represents 7.4% of the total mobile revenue during the quarter as compared to 3.9% in the corresponding quarter last year. After accounting for reduction in inter-connect charges in some of the countries and scaling down of device sales, net revenue at $960 Mn reflects a 6.6% growth YoY.

– Data customers during the quarter increased by 39.2% to 19.6 Mn as compared to 14.1 Mn in the corresponding quarter last year. Data customers now represent 28.7% of the total customer base, as compared to 22.9% in the corresponding quarter last year. Data traffic is up 119.7% YoY to 5.4 Bn MBs during the quarter, from 2.5 Bn MBs in the corresponding quarter last year. Data usage per customer during the quarter was 98.6 MBs as compared to 58.3 MBs in the corresponding quarter last year, an increase of 69.0%. Data ARPU increased by 39.1% Y-o-Y to $1.6 as compared to $1.1 in the corresponding quarter last year.

– The Company had 17,565 network sites by the end of the quarter as compared to 16,371 network sites in the corresponding quarter last year, an increase of 7.3%. 3G sites at 6,675 represented 38.0% of the total sites as at the end of the quarter, as compared to 33.8% in the corresponding quarter last year.

– 3G: Airtel has been granted permission to provide 3G Services in Gabon. In Niger, the Regulator launched a tender for the grant of two 3G licenses, for which the deadline for submission is 30th January 2014.
– In Kenya, the Central Bank has developed draft regulations that require operators to inter-operate the money services. The draft regulations also prohibit exclusivity at the retail trade.
– In DRC, the Telecoms Minster has announced the Government’s intention to launch the consultation process for the grant of 4G licences
– Airtel Money Uganda received a GSMA mWomen Innovation fund grant; this will address over 45,000 savings groups and a grant from Bill and Melinda Gates foundation managed together with IFC to address the distribution network.

South Asia

– In Bangladesh, 3G was commercially launched in Nov’13 and by the end of Dec’13, airtel rolled out more than 800 3G sites and acquired 75,000 3G customers. 3G is available in Dhaka, Chittagong and Sylhet
– 8.4 Mn GSM mobile customers on its network. Minutes of usage for the quarter were 10.5 Bn as compared to 9.2 Bn in the corresponding quarter last year, an increase of 14.0%.

– Data revenue grew by 19.9% to $4.7 Mn as compared to $3.9 Mn in the previous quarter. Data revenue now represents 6.6% of mobile revenue during the quarter as compared to 5.4% in the previous quarter. Data customers represented 32.9% of the total customer base in the current quarter as compared to 28.2% in the corresponding quarter last year. Total data consumption during the quarter increase by 56.3% to 1.50 Bn MBs as compared to 0.96 Bn MBs in the corresponding quarter last year. Data usage per customer also increased to 198.5 MBs, a growth of 28.2% as compared to 154.8 MBs in the corresponding quarter last year.

– Political uncertainty in Bangladesh: telecom sector suffered due to repeated trade and business disruption during the run-up to the national elections.

– Revenue from operations in South Asia stood at $72.0 Mn for the quarter ended December 31, 2013, an increase of 27.0% as compared to $56.7 Mn in the corresponding quarter last year.  EBITDA for the quarter was positive at $5.0 Mn as compared to EBITDA loss of $1.6 Mn in the corresponding quarter last year.

Consolidated Financials

– Consolidated Revenues: Rs 21,939 crore, up 13.3% year on year
– Mobile Internet Revenues: Rs 1736 crore. Data revenues in Africa were up 16.8%
– International revenues grew
 18.5% YoY in INR terms, with Africa growing by 17.2% YoY and 18.5% QoQ, while South Asia grew by 44.8%. Net Revenue in Africa has grown by 21.6% YoY in INR terms, 4.1% sequentially in USD terms. Mobile voice pricing in Africa was stable at
– Consolidated EBITDA grew by 22.8% YoY at Rs 7093 crore.
– Consolidated Net Income: Rs 610 crore, up from Rs 284 crore for the same quarter last year.
– Net debt has reduced to $9,313 million resulting in the Net Debt to EBITDA ratio (USD terms) improving to 2.06, as compared with 2.2 times Q2-FY14.
– India EBITDA margins improved by 4.4% year on year.
– India revenues for the company were up to 10.3%