India’s telecom giant, Bharti Airtel announced its Q4 and year end results on Monday. Revenues for FY2021 came in at ~INR 1tn ($13.75bn), up 18.8% to YoY and consolidated EBITDA was up 32.5% YoY at INR 461.4bn ($6.3bn). However, Bharti ended the financial year with a consolidated net loss of INR 150.8bn ($2.1bn) for the year.
For 4Q ended March, consolidated revenues stood at INR 257.5bn ($3.5bn) up 11.9% YoY and consolidated EBITDA was up 28.9% to INR 125.8bn ($1.72bn) YoY. The consolidated net income came in at INR 7.59bn ($103.7mn) vs. a loss of INR 52.57bn ($718.3mn) last year. Although the results were encouraging on an YoY basis, the company’s profits were down 11% QoQ. The company also reported a healthy growth in its operational metrics. The mobile users in India, its biggest customer base, were 179mn, up 13.7mn QoQ and up 43mn YoY. The company also reported the highest ever customer additions of 274K in its home business in Q4.
Bharti Airtel’s 5.125% 2023 and 3.25% 2031s were down 0.04 and 0.38 respectively to trade at 106.4 and 96.7
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