Bharti Airtel
Bharti Airtel posted a forex loss of Rs.324 crore for Q2FY14 on account of rupee depreciation and pushed down the net profit of the company by 26% (QoQ( and down 29% (YoY ) at Rs.512 crore, the 15th consecutive quarter where the company has shown a decline in net profit. Its total revenue rose 10% (YoY) at Rs.21,324 crore. The company has not yet given the one-time spectrum charges in the results. EBITDA margin came in at 32% v/s 32.3% (QoQ).
Consolidated average revenue per user (ARPU) in India was down 4% (QoQ) but average realisation per minute (ARPM) for voice in India rose 1% at 36.47 paise and average realization per MB data fell 2% to 30.26 paise (QoQ). Its African operations were stronger, with ARPUs coming marginally better, up at $5.7 v/s $5.5 (QoQ)
The company holds 8 licenses for 4G services and is expected to roll out over the next few months. Mobile internet business continues to drive business in India. Its India EBITDA margins improved from 34.8% from 32.6%. As at 30th Sept 2013, the company total net debt was at $9.6 billion and the overall debt has risen on account of debt raised to pay for spectrum in India and the big buy of Zain in Africa, costing the company $9 billion. Overall, the numbers came in much below expectations.