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Axis Securities Report
In Q4 FY24, Bharti Airtel Ltd. reported revenue of Rs 37,599 crore, down 1% QoQ but up 4.4% YoY (below our expectations). This was mainly on account of the devaluation of Nigeria's Naira and other currencies during the period.
The company posted a healthy operating profit of Rs 19,365 crore, leveraging higher 4G conversions and a better service mix. Its operating margins, however, declined marginally by 78 basis points. Its net profit for Q4 FY24 stood at Rs 2,068 crore, registering a decline of 28% QoQ.
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Also Read: Bharti Airtel Q4 Results Review - Soft Growth But Gaining Subscriber Share: Motilal Oswal
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