BHARTI AIRTEL Announces Quarterly Results (1QFY20); Net Profit Down 890.7%

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BHARTI AIRTEL Announces Quarterly Results (1QFY20); Net Profit Down 890.7%
Fri, 2 Aug

BHARTI AIRTEL has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

BHARTI AIRTEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m200,800206,022207,3790.7%3.3%
Other incomeRs m99754674636.6%-25.2%
TurnoverRs m201,797206,568208,1250.8%3.1%
ExpensesRs m129,350135,564124,491-8.2%-3.8%
Gross profitRs m67,82990,67968,194-24.8%0.5%
DepreciationRs m51,45254,93467,58723.0%31.4%
InterestRs m25,49829,15632,27610.7%26.6%
Profit before taxRs m-8,1247,135-30,923-533.4%
TaxRs m-11,2671,374-6,070-541.8%
Profit after taxRs m3,1435,761-24,853-531.4%-890.7%
Gross profit margin%33.844.032.9
Effective tax rate%138.719.319.6
Net profit margin%1.62.8-11.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 3.3% on a year-on-year (YoY) basis. The expenses were down by 3.8% YoY during the same period.
  • The company's operating profit increased by 0.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.9% in 1QFY20 as against 33.8% in 1QFY19.
  • Depreciation charges increased by 31.4% and finance costs increased by 26.6% YoY, respectively.
  • Other income declined by 25.2% YoY during the quarter.
  • Net profit for the quarter declined by 890.7% YoY. Net profit margins during the quarter declined from 1.6% in 1QFY19 to -11.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 8.2% QoQ during the same period.
  • The company's operating profit declined by 24.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.9% in 1QFY20 as against 44.0% in 4QFY19.
  • Net profit for the quarter declined by 531.4% QoQ, while net profit margins declined from 2.8% in 4QFY19 to -11.9% in 1QFY20.

To see how BHARTI AIRTEL has performed over the last eight quarters,please visit here.

BHARTI AIRTEL Share Price Performance

Over the last one year,BHARTI AIRTEL share price has moved down from Rs 373.0 to Rs 344.0, registering a Loss of Rs 29.0 or around 7.8%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,605.1 (up 1.0%). Over the last one year it has moved up from 7,354.8 to 7,605.1, a gain of 250 points (up 3.4%).

Overall, the S&P BSE SENSEX is down 0.9% over the year.

Current Valuations

At the current price of Rs 344.0, the price to book value (P/BV) ratio of BHARTI AIRTEL stands at 2.0 times.

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