Bharti Airtel Ltd.'s profit for the fourth quarter of fiscal 2024 declined, missing analysts' estimates.
The country's second largest telecom company's net profit declined 28% sequentially to Rs 2,068 crore in the January-March quarter, according to an exchange filing on Tuesday. That compares with a Bloomberg consensus estimate of Rs 3,274 crore.
The company reported an exceptional charge of Rs 2,455.5 crore, largely on account of devaluation of the Nigerian currency Naira.
Airtel Q4 FY24 Results Highlights (Consolidated, QoQ)
Revenue fell 0.8% to Rs 37,599 crore (Bloomberg estimate: Rs 38,607.3 crore).
Operating profit declined 2.3% to Rs 19,365 crore (Bloomberg estimate: Rs 20,480.4 crore).
Margin at 51.5% versus 52.28%.
Average revenue per user rose to Rs 209 versus Rs 208.
Bharti Airtel's India customer base stands at 56.19 crore subscribers across 16 countries, up 2% from the quarter-ended December. India customer base rose 8% year-on-year to 40.92 crore.
The capex for India for the quarter stood at Rs 8,491.2 crore, as compared with Rs 8,989.4 crore in the previous quarter, down 6%.
The company also approved a final dividend of Rs 8 per share of face value Rs 5 each, and Rs 2 per partly paid share of Rs 5.
Shares of Bharti Airtel closed 0.09% lower at Rs 1,285.4 apiece, as compared with a 0.45% advance in the benchmark BSE Sensex on Tuesday. The results were announced after market close.
Correction: Copy updated with correct profit decline percentage.
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