Bharti Airtel announces 80% dividend - check key details

Bharti Airtel on May 16, 2023, announced a final dividend of Rs 4 per equity share of a face value of Rs 5 each and Re 1 per partly paid-up equity share of a face value of Rs 5 each (paid-up Rs. 1.25 per share) for the financial year 2022-23. The dividend is in proportion to the amount paid up on each equity share of the face value of Rs 5 per each, the company said in its release. 

Besides, the telecom major also released its financial results for the quarter ended March 2023 (Q4FY23). The company reported a net profit of Rs 3,005.6 crore for the quarter under review, as against a net profit of Rs 1,588.2 crore for the previous three months. Its revenue came in at Rs 36,009 crore for the three-month period, as against Rs 35,804.4 crore for the previous quarter.  Bharti Airtel's average revenue per user (ARPU) stood at Rs 193, marking an increase of Rs 15 on a year-on-year basis. The results were announced post-market hours. The stock of the company had closed at Rs 787.85 on the BSE, down 1.27 per cent.

Source: Earnings release

In a statement, Gopal Vittal, MD, said: “This has been another strong quarter as we end the fiscal year has further strengthened our portfolio. Our consolidated revenue grew sequentially by 0.6 per cent, while the EBITDA margin expanded to 52.2 per cent despite there being two fewer days in the quarter. Our focus on acquiring quality customers has resulted in 7.4 million new 4G customers, as we exit the quarter with an industry-leading ARPU of Rs 193. A simple strategy and our relentless focus on execution have ensured that we close the year with market share gains across all businesses. We are also pleased to see the increased velocity of our digital deliveries across all parts of our business. This has been due to our sustained focus on digital platforms and talent. We continue to ramp up our 5G rollout and expect to connect all major towns and key villages by the end of this year.”