Bharti Airtel (BHARTIARTL) Q4 21/22 earnings summary

Executive summary

• FY22 consolidated revenue reached a record ₹1,165,469 Mn, up 15.8% YoY; EBITDA rose 25.9% to ₹581,103 Mn, with a 49.9% margin.

• Consolidated net profit was ₹42,549 Mn versus a ₹150,835 Mn loss in FY21; standalone operations recorded a ₹36,250 Mn loss.

• Growth spanned mobile, homes, enterprise and Africa, supported by tariff actions, customer additions, infrastructure investment and digital services.

Financial highlights

• Consolidated EBIT was ₹248,531 Mn, up 49.6% YoY; EBIT margin rose to 21.3% from 16.5%.

• Consolidated PBT before exceptional items was ₹107,845 Mn versus ₹22,586 Mn in FY21; reported profit for the year was ₹42,549 Mn.

• Standalone revenue was ₹706,419 Mn, up 9.8%; EBITDA was ₹355,984 Mn and PAT was a loss of ₹36,250 Mn.

• Depreciation and amortisation rose 12.5% to ₹330,907 Mn; net finance costs increased ₹15,816 Mn YoY to ₹163,835 Mn.

• Consolidated operating free cash flow was ₹324,487 Mn; capital expenditure was ₹256,616 Mn.

Outlook and guidance

• Strategy remains focused on premium customers, ARPU expansion, 4G upgrades, customer experience, digital services and disciplined cost control.

• Nxtra plans ₹50 Bn investment by 2025 to triple installed data-centre capacity to more than 400 MW.

• Management highlighted potential from 5G, rising data usage, underpenetrated home broadband and postpaid, and faster-growing B2B adjacencies; no specific financial guidance figures were cited.

• The FY22 exit ARPU was ₹178, and continued pricing interventions were identified as a route to further ARPU growth.