Web Analytics Business News This Week Bharti Airtel announces consolidated IFRS Q4results | Business News This Week

May 2, 2012

Bharti Airtel announces consolidated IFRS Q4results

IN · · Leave a Comment
Press Release:

New Delhi, India, May 2, 2012: Bharti Airtel Limited (“Bharti Airtel” or “the Company”) today announced its audited consolidated IFRS results for the fourth quarter and year ended March 31, 2012.


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 a robust level of 33.3% benefitting from scale and cost efficiencies. The Consolidated Net Income of ` 1,006 crore (Q4 FY 11: ` 1,401 crore) was impacted by higher costs on account of 3G license fee amortisation (`106 crore), 3G interest costs (` 84 crore), forex fluctuation losses (` 132 crore) and tax provisions (` 198 crore).


Revenue growth of 11.6% for the full year in India & SA was mainly contributed by stability in pricing accompanied by robust growth in customer numbers. Africa, after adjusting for the number of days in Q1 FY11, grew by 18.8% in $ terms, on the back of network expansion and a growing customer base. Consolidated EBITDA margins for the full year dropped to 33.2% (FY 11: 33.7%), but Africa improved to 26.5% (FY 11: 21.9%). The Consolidated Net Income for the year at ` 4,259 crore (FY 11: ` 6,047 crore) was impacted by higher costs on account of 3G license fee amortisation (` 593 crore), 3G interest costs (` 421 crore), forex fluctuation losses (` 422 crore) and tax provisions (` 481 crore). The Net Debt – Equity ratio is at 1.29 (FY11: 1.23) and Net Debt - EBITDA ratio improved to 2.56 (FY11: 2.95).


In a statement, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said:
“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”

Highlights for the fourth quarter ended March 31, 2012
  • Overall customer base stands at 252 million, across 20 countries.
  • Total revenues at ` 18,729 crore, up by 15% Y-o-Y.
  • India & South Asia revenues at ` 13,421 crore, up by 10.5% Y-o-Y.
  • Africa revenues at $1,071 million, up by 15.9% Y-o-Y. In Rupee terms, Africa revenue growth is at 28.8%.
  • Consolidated EBITDA of ` 6,233 crore, up by 13.7% Y-o-Y. EBITDA margin at 33.3%.
Highlights for the year ended March 31, 2012
  • Total revenues at ` 71,451 crore, up by 20.0% Y-o-Y.
  • India & South Asia revenues at ` 51,893 crore, up by 11.6% Y-o-Y.
  • Africa revenues at $4,137 million, up by 43.7% Y-o-Y. In Rupee terms, Africa revenue growth is 51.5%. (1)
  • Consolidated EBITDA of ` 23,712 crore, up by 18.1% Y-o-Y. Full year EBITDA margin at 33.2%.

0 comments:

Post a Comment