Bharti Airtel has announced its audited consolidated IFRS results for the quarter ended September 30, 2013.

The consolidated revenues for the second quarter of financial year 2014 stood at Rs 213.24 billion, a 10 per cent increase over the corresponding quarter last year. Mobile internet revenues for this period which stood at Rs 15.03 billion, increased by over 100 per cent on a year-on-year (Y-o-Y) basis, accounting for 39.1 per cent of the overall incremental revenue.

Meanwhile, mobile voice realisation improved by 1.31 p on a Y-o-Y basis (36.74 p in the period under consideration, compared to 35.43 p in the second quarter of financial year 2013). Voice usage per customer also increased by 20 minutes per month (from 417 minutes in the second quarter of financial year 2013 to 437 minutes per subscriber in the period under consideration). Data usage per customer has increased by 98 MBs (from 133 MBs in the second quarter of financial year 2013 to 231 MBs per customer in the period under consideration). Consequently, average revenue per user (ARPU) has increased by Rs 15 to Rs 192 in the period under consideration.

Meanwhile, international revenues increased by 17.9 per cent Y-o-Y and 18.3 per cent quarter-on-quarter (Q-o-Q), with revenues from the company’s Africa operations increasing by 16.1 per cent Y-o-Y and 18.5 per cent Q-o-Q. Meanwhile, revenues from its South Asian operations grew by 54.4 per cent Y-o-Y and 16.0 per cent Q-o-Q.

Revenues from Africa (in constant USD terms) grew by 5.4 per cent on a sequential quarter basis, led by a 28.2 per cent increase in data revenues. Mobile voice pricing in Africa remained stable at 3.30 cents per minute. Net revenue in Africa (after inter-connect costs and cost of goods sold) has grown by 20.7 per cent Y-o-Y in rupee terms.

Consolidated EBITDA grew by 15.1 per cent Y-o-Y to Rs 68.32 billion, with margin expanding to 32.0 per cent from 30.6 per cent in the corresponding quarter last year, driven by India EBITDA margin improvement from 32.6 per cent to 34.8 per cent.

The continued depreciation of the Indian rupee has resulted in forex restatement and derivative losses of Rs 3.42 billion (compared to a Rs 25 million loss in the second quarter of financial year 2013). Consequently, the company’s consolidated net income stood at Rs 5.12 billion, compared to Rs 7.21 billion in the corresponding quarter last year.

Consolidated operating free cash flows for the quarter stood at Rs 46.93 billion, a 117.1 per cent Y-o-Y growth. The company’s consolidated net debt has reduced to $ 9,697 million, resulting in the net debt to EBITDA ratio (in dollar terms) improving to 2.18 times as compared to 2.59 times at the end of the same quarter last year.