Key Points
New Delhi: Indias second largest telecom services provider Bharti Airtel will consider issuing dividend for thefinancial year2022-23 on May 16, post its results for the quarter ended March 2023...
Mint had reported in October 2022 citing analyst interviews and brokerage reports thatAirtelshould begin paying outdividends FY24 onwards at 20% of profits increasing to 65% by FY27.They had noted that Airtel had a cumulative growth rate at 15% which was far higher than some of its Asian peers with similar earnings parameters, which in turn would mean betterdividendyields, and added that the carriers shareholders, Singtel and Bharti Telecom, needdividends fromAirtelto fund their owndividendand interest payouts..
The announcement came after market hours and soon aftertheAirtelsAfrica arm reported a5.5% decline in net profit at $227 million for the fourth quarter ended March 2023,owing tohigher foreign exchange and derivative losses.For the full year, profit was up 0.6%on-yearto $750 million..
Average revenue per user, a key metric of profitability, was up 1.8% on-year to $3.3 in FY23, but itremainedflat for the quarter ended March at $3.2.Africa had a total customer base of 140 million as of March, with 54.6 million data customers and31.5.
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