Expected gains in Q3FY24 for Airtel hinge on fare hike, steady growth

Bharti Airtel’s Q3FY24 results were in line with expectations. Africa also had good results adjusting for currency volatility. The consolidated revenue of Rs 37,900 crore was in line with the consensus, and increased 2 per cent sequentially. India saw growth of 3 per cent for the wireless segment, 4 per cent for home segment and 4 per cent for Direct-To-Home (DTH) and 2 per cent for the enterprise segment.

Mobile subscribers saw net additions of 3.3 million to 345.6 million. The average revenue per user (ARPU) rose to Rs 208, up nearly 3 per cent quarter-on-quarter (Q-o-Q). Consolidated operating