Airtel posted its earnings for the quarter ended March after market close on Tuesday.

What Happened: The telecom giant’s net profit for the quarter came in at ₹2,071.6 crore, down around 30% from the ₹3,006 crore posted in the same quarter last year. The company disclosed that it had a one-time exceptional loss of ₹2,455 crore. The number was slightly lower than analysts’ estimate of around ₹2,200 crore.

Revenue from operations for the March quarter was at ₹37,599 crore, up 4.4% from the ₹36,009 crore posted in the same quarter last year. The number was below street estimates of around ₹38,200 crore. “Consolidated revenues were impacted by devaluation of African currencies during the period, particularly Nigerian Naira,” the company said in a statement.

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Consolidated EBITDA witnessed an increase of 4.2% YoY to ₹19,590 crore in the March quarter. EBITDA margin is at 52.1% compared to 52.2% posted in the March quarter of 2023. The company also announced a ₹8/share dividend.

The company added that India revenues for the January-March period stood at ₹28,513 crore, increased by 12.9% YoY. During the quarter, the telco’s Average Revenue Per User (ARPU) reached ₹209, marking an increase from ₹193 posted at the end of March 2023. This growth was propelled by the company’s ongoing emphasis on acquiring high-quality customers and improving the product mix. The company added 78 lakh 4G/5G customers during the quarter. Airtel’s India customer base stands at 40.6 crore.

Price Action: Airtel’s share price was down 0.13% to close at ₹1,284.30 on Tuesday.

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