Bharti Airtel Limited has released its audited consolidated IFRS results for the fourth quarter and year ended March 31, 2012 with overall customer base standing at 252 million, across 20 countries.

According to a statement, highlights for the fourth quarter, total revenues at US$ 3,723 million, up by 15 per cent Y-o-Y; India & South Asia revenues at US$ 2,652 million, up by 10.5 per cent Y-o-Y; Africa revenues at US$1,071 million, up by 15.9 per cent Y-o-Y. In Rupee terms, Africa revenue growth is at 28.8%; Consolidated EBITDA of US $ 1,239 million, up by 13.7% Y-o-Y. EBITDA margin at 33.3 per cent.

Highlights for the year ended March 31, 2012 showed that, total revenues at US$ 14,937 million, up by 20.0 per cent Y-o-Y; India & South Asia revenues at US$ 10,799 million, up by 11.6 per cent Y-o-Y; Africa revenues at US$4,137 million, up by 43.7 per cent Y-o-Y. In Rupee terms, Africa revenue growth is 51.5 per cent.; Consolidated EBITDA of US$ 4,957 million, up by 18.1 per cent Y-o-Y. Full year EBITDA margin at 33.2 per cent.

According to the statement, revenue growth in the fourth quarter was fuelled by increased customer additions and strong minutes growth in India.

“Despite a national strike for nine days in Nigeria, Africa revenues continued its growth trend. “Consolidated EBITDA margin was sustained at a robust level of 33.3 per cent benefiting from scale and cost efficiencies. The Consolidated Net Income of US$ 200 Mn (Q4 FY 11: US$ 309 Mn) was impacted by higher costs on account of 3G license fee amortisation (US$ 21 Mn), 3G interest costs (US$ 17 million), forex fluctuation losses (US$ 25 million) and tax provisions (US$ 28 million).

“Revenue growth of 11.6 per cent for the full year in India & SA was mainly contributed by stability in pricing accompanied by robust growth in customer numbers. Africa, after adjusting for the number of days in Q1 FY11, grew by 18.8 per cent in $ terms, on the back of network expansion and a growing customer base. Consolidated EBITDA margins for the full year dropped to 33.2 per cent (FY 11: 33.7 per cent), but Africa improved to 26.5 per cent (FY 11: 21.9 per cent). The Consolidated Net Income for the year at US$ 890 million (FY 11: US$ 1,325 million) was impacted by higher costs on account of 3G license fee amortisation (US $135 Mn), 3G interest costs (US$ 95 million), forex fluctuation losses (US$ 87 Mn) and tax provisions (US$ 82 million). The Net Debt – Equity ratio is at 1.29 (FY11: 1.23) and Net Debt – EBITDA ratio improved to 2.56 (FY11: 2.95).”

Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said: “I am pleased that the year has ended with the Company’s customer base crossing 250 million across twenty countries, the twentieth country being Rwanda. Our launch of 4G LTE, the first in India, is testimony to our commitment to the broadband agenda. The recent regulatory developments in India will have significant implications on the future of telephony and broadband, as well as India’s global competitiveness. The entire industry looks to the Government for a fair, transparent and sustainable telecom regime.”

by  Ebenezer Ademola