What should investors do with Bharti Airtel post Q4 results: buy, sell or hold?

Average revenue per user (ARPU) continued to be the best in industry as Q4’21 ARPU came in at Rs 145 versus Rs 135 in Q4’20 on a comparable basis.

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Bharti Airtel share price was trading lower at open on May 18, a day after the company declared its Q4 results.

The telecom major on May 17 reported a net profit of Rs 759.2 crore for the quarter ended March 31, 2021 (Q4FY21). The firm had posted a loss of Rs 5,237 crore in the year-ago period. In the December quarter, profit stood at Rs 853.6 crore.

The company’s fourth quarter total revenue came in Rs 25,747 crore, up 17.6 percent year-on-year (YoY) on a comparable basis and 11.9 percent YoY on a reported basis.

Its earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 12,583 crore, up 28.9 percent YoY and EBITDA margin was at 48.9 percent, an expansion of 647 basis points (bps).

EBIT of the company came in at Rs 5,048 crore, up 75.5 percent YoY and EBIT margin at 19.6 percent, an expansion of 711 bps.

The stock was trading at Rs 546.15, down Rs 3.40, or 0.62 percent at 09:21 hours. It has touched an intraday high of Rs 549.55 and an intraday low of Rs 537.10.

Also read: Bharti Airtel Q4 result: Telecom major posts net profit of Rs 759.2 crore, revenue rises 12%

Average revenue per user (ARPU) continued to be the best in industry as Q4’21 ARPU came in at Rs 145 versus Rs 135 in Q4’20 on a comparable basis.

Here is what brokerages have to say about the stock and company after March earnings:

UBS | Rating: Buy | Target: Rs 655

The research firm is of the view that the company posted a healthy set of results, with the telecom firm outperforming Jio on most metrics. Impact of COVID on subscriber adds and ARPUs are the key monitorable going ahead.

CLSA | Rating: Buy | Target: Rs 730

CLSA believes that the company gained more-than-expected 4G data subscribers. ARPU, net of IUC, although was down 0.8 percent QoQ and up 7.4 percent YoY. It feels that 4G penetration of 56 percent of its own subscribers assures growth.

Citi | Rating: Buy | Target: Rs 685

Citi believes that overall, Q4 was in line with India mobile EBITDA a shade below. Adjusted pre-tax profit of Rs 1,580 crore was ahead of estimates. The company’s profit was boosted by Rs 440 crore of net exceptional gains.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Disclosure: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.