New Delhi, India Bharti Airtel Limited ("Bharti Airtel" or "the Company") today announced its audited consolidated IFRS results for the second quarter and half year ended September 30, 2012.
The Consolidated revenues for Q2 at ` 20,273 crore grew by 17.4% over the corresponding period last year, led by strong growth of 77% in India Mobile Data, 26% in 'airtel business' (B2B), 26% in Digital TV and 29% in Africa. Mobile voice revenues in India were depressed due to the seasonal effect.
Africa continued to witness steady Y-o-Y growth, fuelled by 21% increase in customer base, 32% traffic increase and 56% increase in non-voice revenues.
The Company's efforts to counter economic headwinds were successful in Q2 in terms of minutes elasticity.
Amidst intensified competitive pressures, Airtel has continued to keep its prime focus on leading the market development through network (including 3G) and distribution expansion, and affordable pricing.
Consolidated EBITDA margin at 31.3% improved on a sequential basis, aided by a favourable outcome on an outstanding dispute in India pertaining to inter-connect agreements. Consolidated Net Income came in at ` 721 crore, down Y-o-Y by 30% (PY: ` 1,027 crore).
Consolidated Operating Free Cash Flows for the quarter were healthy at ` 2,296 crore which represents an increase of 111% over the corresponding period last year. The Net Debt – Equity ratio was at 1.35 (Q1 : 1.38) and USD Net Debt – EBITDA ratio was at 2.72 (Q1 : 2.54).
In a statement, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said: "Despite a seasonally weak quarter, I am pleased to see that our overall revenue growth has sustained through diversified segments and geographies as well as the continuing healthy demand in data services.
I am also happy to note that in India, the much needed market corrections in customer acquisition practices have been put in place by the operators.
Our African operations continue to reflect sustained and steady growth on all major parameters of revenues, profitability and cash flow".
