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Bharti Airtel consolidated topline at ₹ 58539 crore

ICICIdirect Research 05 Aug 2026 DISCLAIMER

News: Bharti Airtel consolidated topline at ₹ 58539 crore, was up 5.7% QoQ and up 18.4% YoY. India wireless revenues were up 3.8% QoQ (up 9.2% YoY) at ₹ 29929 crore, driven by subscriber addition of 3.3 mn during the quarter to 373.2 mn and  Average Revenues per User (ARPU), which was at ₹ 264, 2.7% QoQ and up ~5.4% YoY, with QoQ growth largely driven by healthy postpaid and data subscriber addition.  It witnessed healthy 4G+5G Net adds of 5 mn during the quarter, with 4G/5G data subbase at 301.8 mn. The post-paid subscriber base also saw robust addition of ~1 mn subscribers (highest ever in a quarter)at 30 mn. The data usage per sub was up 9.3% QoQ at 34.4 GB per month. Africa Revenues at ₹ 17566 crore, were up 9.6% QoQ (constant currency growth of 5.7%). Consolidated EBITDA came in at ₹ 33303 crore, with margins of 56.9%, flat QoQ and up 61 bps YoY, with India wireless margins at 60.8%, up 14 bps QoQ, while Africa Margins at 50.2% was down 15 bps QoQ. Adjusted PAT was at ₹ 8057 crore, up 11.2% QoQ and 35.5% YoY. The net debt (excl. lease liabilities) at ₹ 81,852 crore was down by ₹9196 crore QoQ, given the healthy cashflow generation.

View: Airtel has reported relatively resilient performance on Indian wireless business front with healthy post-paid/4G subscribers’ addition, ARPU and sustained margins performance in the wireless business. Key monitorable for the company would be Management commentary on overall growth drivers ahead.

Impact: Positive

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