BHARTI AIRTEL Announces Quarterly Results (3QFY19); Net Profit Down 30.0%

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BHARTI AIRTEL Announces Quarterly Results (3QFY19); Net Profit Down 30.0%
Mon, 4 Feb

BHARTI AIRTEL has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

BHARTI AIRTEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m203,186204,225205,1920.5%1.0%
Other incomeRs m696694675-2.7%-3.0%
TurnoverRs m203,882204,919205,8670.5%1.0%
ExpensesRs m122,280139,687143,0122.4%17.0%
Gross profitRs m78,51163,08976,31721.0%-2.8%
DepreciationRs m48,37552,36654,7234.5%13.1%
InterestRs m24,84633,03420,169-38.9%-18.8%
Profit before taxRs m5,986-21,6172,100-64.9%
TaxRs m379-22,476-1,824-581.3%
Profit after taxRs m5,6078593,924356.8%-30.0%
Gross profit margin%38.630.937.2
Effective tax rate%6.3104.0-86.9
Net profit margin%2.80.41.9
* 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 1.0% on a year-on-year (YoY) basis. The expenses were up by 17.0% YoY during the same period.
  • The company's operating profit declined by 2.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.2% in 3QFY19 as against 38.6% in 3QFY18.
  • Depreciation charges increased by 13.1% and finance costs declined by 18.8% YoY, respectively.
  • Other income declined by 3.0% YoY during the quarter.
  • Net profit for the quarter declined by 30.0% YoY. Net profit margins during the quarter declined from 2.8% in 3QFY18 to 1.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.4% QoQ during the same period.
  • The company's operating profit increased by 21.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 37.2% in 3QFY19 as against 30.9% in 2QFY18.
  • Net profit for the quarter increased by 356.8% QoQ, while net profit margins increased from 0.4% in 2QFY18 to 1.9% in 3QFY19.

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 up from Rs 421.8 to Rs 306.7, registering a Loss of Rs 115.2 or around 27.3%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,565.5 (down 0.3%). Over the last one year it has moved up from 6,759.9 to 7,565.5, a gain of 806 points (up 11.9%).

Overall, the S&P BSE SENSEX is up 1.5% over the year.

Current Valuations

At the current price of Rs 306.7, the price to earnings (P/E) ratio of BHARTI AIRTEL stands at 119.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.

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