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Bharti Airtel Results: Latest Quarterly Results & Analysis

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Bharti Airtel Ltd. 03 Nov 2025 17:03 PM

Q2FY26 Quarterly Result Announced for Bharti Airtel Ltd.

Telecom Services company Bharti Airtel announced Q2FY26 results

  • Overall customer base stands at ~624 million across 15 countries.
  • Total revenues at Rs 52,145 crore, up 25.7% YoY.
  • EBITDA at Rs 29,919 crore, up 35.9% YoY; EBITDA margin at 57.4%.
  • EBITDAaL at Rs 26,600 crore, up 42.0%YoY; EBITDAaL margin at 51.0%.
  • EBIT at Rs 16,669 crore, up 51.6% YoY; EBIT margin at 32.0%.
  • Net Income (before exceptional items) at Rs 6,792 crore.
  • Capex for the quarter at Rs 11,362 crore.

Gopal Vittal, Vice- Chairman & MD, said: We delivered another quarter of solid performance, achieving a consolidated revenue of Rs 52,145 crore growing 5.4% sequentially and underscoring the strength of our portfolio. Our India revenue, including Passive Infrastructure Services, increased by 2.9%. Africa delivered another quarter of standout performance with constant currency revenue growth of 7.1%.

India Mobile business delivered 2.6% revenue growth, adding 5.1 million smartphone customers, maintaining an industry-leading ARPU of ?256 led by continued premiumization of portfolio and a steadfast focus on quality customers. The Postpaid segment recorded one of the highest quarterly net additions of ~1 million.

Our Homes business sustained strong momentum with 951K net customer additions and sequential revenue growth of 8.5%. IPTV services continue to gain strong traction, driving our connected homes priority. Airtel Business reported strong results with 4.3% sequential revenue growth. We saw multiple deal wins across Connectivity, IOT and security business.

Our solid balance sheet is a reflection of disciplined capital allocation, continued deleveraging and sustained operational excellence.

Result PDF

Telecom Services company Bharti Airtel announced Q1FY26 results

  • Bharti Airtel reported quarterly revenues of Rs 49,463 crore growing 28.5% YoY & 3.3% QoQ.
  • Consolidated EBITDA at Rs 28,167 crore with EBITDA margin of 56.9%.
  • Consolidated EBITDAaL at Rs 24,994 crore with margin of 50.5%.
  • Consolidated EBIT at Rs 15,621 crore with EBIT margin of 31.6%, up by 729 bps YoY.
  • Consolidated Net income (before Exceptional items) at Rs 5,948 crore vs Rs 2,925 crore in Q1FY25.
  • Net Debt (excluding lease obligations) to EBITDAaL ratio (annualised) is at 1.26 times.
  • Net Income (before exceptional items) at Rs 5,948 crore
  • Capex for the quarter at Rs 8,307 crore
  • India business posts quarterly revenues of Rs 37,585 crore – up 29.0% YoY, up 2.3% QoQ, backed by improved realizations in mobile segment & strong momentum in Homes business.

Gopal Vittal, Vice- Chairman & MD, said: "We delivered another quarter of consistent growth, with consolidated revenues at 49,463 crores growing 3.3% on a sequential basis. Our India revenue, including Passive Infrastructure Services, increased by 2.3% sequentially. Africa reported solid performance with 6.7% growth in constant currency.

India Mobile business recorded a sequential growth of 2.9%, driven by continued focus on portfolio premiumization and an additional day in the quarter. We added ~4 million smartphone data customers and maintained an industry-leading Average Revenue Per User (ARPU) of Rs 250 for Q1FY26.

Our Homes business reported solid performance with a life time high quarterly net additions of 939K, resulting in a sequential revenue growth of 7.6%. Our IPTV expansion is ramping up well with strong acceptance from customers as it delivers superior experience and convenience. Airtel Business revenue decline is reflecting full impact of portfolio restructuring undertaken last year. The underlying growth trajectory remains steady at a sequential growth of 2.0 % with continued improvement in funnel and orderbook.

Our digital network across India and Africa now serves over 600 million customers. This is a testament to our passion for connecting customers through sustained investments and superior customer experience. Our balance sheet continues to demonstrate strength, supported by solid cash flow generation and disciplined capital allocation."

Result PDF

Telecom Services company Bharti Airtel announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Overall customer base stands at ~591 million across 15 countries.
  • Total revenues at Rs 47,876 crore, up 27.3% YoY.
  • EBITDA at Rs 27,404 crore, up 39.9% YoY; EBITDA margin at 57.2%.
  • EBITDAaL at Rs 24,384 crore, up 48.0%YoY; EBITDAaL margin at 50.9%.
  • EBIT at Rs 14,950 crore, up 58.7% YoY; EBIT margin at 31.2%.
  • Net Income (before exceptional items) at Rs 5,223 crore.
  • Capex for the quarter at Rs 14,401 crore.

FY25 Financial Highlights:

  • Consolidated revenues at Rs 1,72,985 crore, up 15.3%YoY.
  • Consolidated EBITDA at Rs 94,249 crore; EBITDA margin at 54.5%, up 1.8% YoY.
  • India EBITDA at Rs 74,768 crore; EBITDA margin at 56.6%, up 2.8% YoY.
  • Consolidated Net Income (before exceptional items) at Rs 17,573 crore.

Gopal Vittal, Vice- Chairman & MD, said: We ended FY25 on a strong note with consolidated revenue of 47,876 crore, growing 6.1%. India revenue increased by 6%. Africa continued its underlying performance even as there was steadiness on currency. India Mobile business grew by 1.3% sequentially, despite having 2 less days in the quarter. Growth was driven by premiumization. We added 6.6 million smartphone users and maintained an industry-leading ARPU of Rs 245.

Our Homes business saw step up in customer net additions resulting in sequential revenue growth of 5.8%. Our IPTV services are now live in over 2000 cities, enhancing large screen viewing experience for customers. Airtel business revenue moderation was inline with our strategy outlined last quarter to shed our low margin wholesale business while underlying growth continues to remain steady.

Our balance sheet is solid, supported by strong cash generation, disciplined capital spending, and ongoing debt reduction. We prepaid Rs 5,985 crore of high-cost spectrum dues in the last quarter with prepayment of over Rs 42K crore in last two years.

Result PDF

Telecom Services company Bharti Airtel announced Q3FY25 results

  • Overall customer base stands at ~577 million across 15 countries.
  • Total revenues at Rs 45,129 crore, up 19.1% YoY.
  • EBITDA at Rs 24,880 crore, up 24.1% YoY; EBITDA margin at 55.1%.
  • EBIT at Rs 13,126 crore, up 33.3% YoY; EBIT margin at 29.1%.
  • Net Income (before exceptional items) at Rs 5,514 crore.
  • Capex for the quarter at Rs 9,161 crore

Gopal Vittal, Vice-Chairman & MD, said: “We delivered another consistent quarter with consolidated revenue of 45,129 crore. Indus Towers consolidation is effective this quarter. India revenue (excluding Indus) grew by 4.8% sequentially. Africa maintained strong constant currency sequential growth trajectory of 5.6%. India mobile delivered strong performance led by residual flow-through of tariff repair and underlying levers of premiumization. We reported another quarter of industry leading ARPU growth to reach Rs 245. We added 6.5 Mn smartphone users underpinned by our focus on acquiring quality customers and portfolio premiumization. Homes business saw further step up in customer additions with acceleration of FWA expansion. Airtel Business delivered stable performance but continues to remain challenged. We are in the middle of comprehensive re-tooling of our Airtel Business portfolio by stepping-up investments in digital services across Cloud, Security and IoT while shedding very low margin commodity voice and wholesale business. This is likely to impact the top line of this business in the coming quarters but will have an insignificant impact on the margins.

Our balance sheet remains solid, supported by robust cash generation, prudent capital allocation and continued deleveraging. During the quarter, we prepaid another tranche of Rs 3,626 crore of high-cost spectrum dues. At the same time, we believe the industry needs further tariff repair to ensure sustained investments and long term value creation.”

Result PDF

Telecom Services company Bharti Airtel announced Q2FY25 results

  • Bharti Airtel posts quarterly revenues of Rs 41,473 crore – up 12.0% YoY, up 7.7% QoQ, driven by strong momentum in India and sustained constant currency growth in Africa.
    • India business posts quarterly revenues of Rs 31,561 crore – up 16.9% YoY, up 8.7% QoQ, backed by improved realizations in mobile segment and sustained momentum in Homes and Airtel Business.
    • Mobile services India revenues up 18.5% YoY, led by tariff repair, strong smartphone data customer additions and underlying mix improvement.
    • Airtel Business revenues up 10.7% YoY, led by growth in domestic portfolio.
    • Homes business continues on growth momentum, revenues up 17.3% YoY led by strong customer additions.
    • Digital TV revenues up 1.0% YoY.
  • Consolidated EBITDA at Rs 22,021 crore; EBITDA margin at 53.1%.
    • India business posts EBITDA of Rs 17,295 crore, EBITDA margin at 54.8%, up 86 bps YoY.
  • Consolidated EBIT at Rs 10,996 crore; EBIT margin at 26.5%, decline of 29 bps YoY.
    • India business EBIT is Rs 7,894 crore; EBIT margin at 25.0%, increase of 97 bps YoY.
  • Consolidated Net income (before Exceptional items) at Rs 3,911 crore, up by 32.2%YoY.
  • Consolidated Net income (after Exceptional items) at Rs 3,593 crore, up by 168.0%YoY.
  • Industry leading operational indicators supported by strong business momentum and solid execution.
    • Smartphone data customers up by 26.2 million YoY & 4.2 million QoQ, 75% of overall mobile customer base.
    • Postpaid net adds of 0.8 million in Q2FY25.
    • Mobile ARPU increased to Rs 233 in Q2FY25 vs Rs 203 in Q2FY24.
    • Mobile data consumption up 22.6% YoY, consumption per customer at 23.9 GB per month.
    • Homes business saw step- up in customer additions with 583 K in Q2FY25.

Gopal Vittal, MD, Bharti Airtel, said: “We delivered another quarter of solid performance, with India revenue growing 8.7% sequentially. Africa maintained strong revenue growth momentum as well with 7.7% constant currency growth. The flow thru of tariff repair is in-line with our expectation on ARPU increase and SIM consolidation. We reported industry leading ARPU of Rs 233. Our focus on winning quality customers and driving premiumization has helped us add 4.2 million smartphone customers. We continue to expand our Wifi coverage with FWA offerings to over 2,000 cities. We continue to invest in our digital businesses to diversify portfolio strength and drive long term growth. Airtel also continues to invest in a future ready digital network to deliver brilliant customer experience - we launched India's first AI-powered, network-based spam detection solution to solve the endemic problem of spam calls and messages. Our 5G network has once again received validation from Open signal – Airtel was awarded all the five awards on 5G network experience.

Our balance sheet remains solid, supported by cash generation and continued deleveraging. During the quarter, we prepaid another tranche of Rs 8,465 crore of high cost spectrum dues.

At the same time, we believe that industry needs further tariff repair for sustained investments given that ROCE for India is still only 11 percent.”

Result PDF

Telecom Services company Bharti Airtel announced Q1FY25 results:

Financial Highlights: 

  • Overall customer base stands at ~568 million across 16 countries
  • Total revenues at Rs 38,506 crore, up 2.8% YoY
  • EBITDA at Rs 19,944 crore, up 1.0% YoY; EBITDA margin at 51.8%, decline of 95 bps YoY
  • EBIT at Rs 9,355 crore, down 7.2% YoY; EBIT margin at 24.3%, decline of 263 bps YoY
  • Net Income (before exceptional items) at Rs 2,925 crore
  • Net income (after exceptional items) at Rs 4,160 crore
  • Capex for the quarter at Rs 8,007 crore 

India Business:

  • India revenue at Rs 29,046 crore, up 10.1%YoY
  • EBITDA margin steady at 53.7% YoY. EBIT margin at 22.8%, down 126 bps YoY
  • Customer base stands at ~ 409 million
  • Capex for the quarter at Rs 6,781 crore

Africa Business:

  • Revenue (in constant currency) up 19.0% YoY
  • EBITDA margin (in constant currency) at 45.3%, down 313 bps YoY. EBIT margin at 29.0%
  • Customer base stands at 155 million
  • Capex for the quarter at Rs 1,225 crore

In a statement, Gopal Vittal, MD, said: "Q1FY25 was yet another steady quarter with India revenue growing at 1.9% sequentially and sustained EBITDA margins expansion to 53.7%. Our stringent focus on driving cost efficiencies is reflected in strong operating leverage. Africa continues to deliver strong underlying constant currency revenue growth. India operations added 6.7 million smartphone customers and reported an improved ARPU of Rs 211. Our postpaid strategy continues to yield results with 0.8 million net adds. During the quarter, we accelerated pace on FWA services expansion across key towns. Our Wifi services (FTTH and FWA) are now available in over 1300 cities. Our digital portfolio is shaping up well and it is geared for accelerated growth to add strength to our already diversified portfolio.

In the recently concluded spectrum auction, we successfully renewed spectrum that was expiring in 6 circles and further bolstered our sub-giga hertz and mid-band holding in key circles by investing Rs 6,857 crore. The industry saw much needed action on tariff repair, which is positive for industry’s financial health amid ongoing large network capex. We continue to believe that industry needs over Rs 300 ARPU at the minimum for financial stability.”

Result PDF

Telecom Services company Bharti Airtel announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

Consolidated:

  • Overall customer base stands at ~562 million across 16 countries
  • Total revenues at Rs 37,599 crore, up 4.4% YoY
  • EBITDA at Rs 19,590 crore, up 4.2% YoY; EBITDA margin at 52.1%, decline of 12 bps YoY
  • EBIT at Rs 9,423 crore, up 0.4% YoY; EBIT margin at 25.1%, decline of 101 bps YoY
  • Net Income (before exceptional items) at Rs 2,952 crore
  • Net income (after exceptional items) at Rs 2,072 crore
  • Capex for the quarter at Rs 10,516 crore

India:

  • India revenue at Rs 28,513 crore, up 12.9%YoY
  • EBITDA margin at 53.6% up 56 bps YoY. EBIT margin at 23.2%, up 9 bps YoY
  • Customer base stands at ~ 406 million
  • Capex for the quarter at Rs 8,491 crore

Africa:

  • Revenue (in constant currency) up 23.1% YoY
  • EBITDA margin (in constant currency) at 47.4%, down 148 bps YoY. EBIT margin at 31.9%
  • Customer base stands at 153 million
  • Capex for the quarter at Rs 2,019 crore

FY24 Financial Highlights:

  • Consolidated revenues at Rs 1,49,982 crore, up 7.8% YoY
  • Consolidated EBITDA at Rs 79,046 crore and EBITDA margin at 52.7%, up 115 bps YoY
  • India EBITDA at Rs 59,009 crore and EBITDA margin at 53.8%, up 162 bps YoY
  • Consolidated Net Income (before exceptional items) at Rs 11,305 crore
  • Consolidated Net income (after exceptional items) at Rs 7,467 crore 

In a statement, Gopal Vittal, MD, said: "We ended the year on a strong note with consistent performance across all businesses, both on customer metrics as well as financial parameters. India revenue (adjusted for Beetel) grew by 1.7% with EBITDA margin expanding to 54.1%, despite one day less in the quarter. Consolidated performance was impacted primarily by the devaluation of the Nigerian Naira. We added 7.8 million smart phone customers and delivered an industry leading ARPU of Rs 209. Our relentless focus on improving customer experience has resulted in 20% churn reduction during the quarter. Our simple and clear strategy coupled with razor-sharp focus on execution enabled us to end the quarter with life-time high market share across all businesses. Our efforts on digitizing Airtel are now gathering velocity and is being visibly felt across all parts of our operations. At the same time, our return on capital employed continues to remain low due to the absence of tariff repair in the industry.”

Result PDF

Telecom Services company Bharti Airtel announced Q3FY24 results:

  • Bharti Airtel posts quarterly revenues of Rs 37,900 crore – up 5.9% YoY, partially impacted by currency devaluations in Africa
    • India business posts quarterly revenues of Rs 27,811 crore – up 11.4% YoY backed by strong and consistent performance across the portfolio
    • Mobile services India revenues up 11.8% YoY, led by strong 4G/5G customer additions and an increase in ARPU
    • Airtel Business revenues up by 8.7% YoY, backed by synergies from emerging portfolio
    • Homes business sustains a strong growth trajectory impetus, with revenues up 23.0% YoY on account of solid customer additions
    • Digital TV revenues up by 6.0% YoY, driven by improved realization and recovery in net customer additions
  • Consolidated EBITDA at Rs 20,044 crore; EBITDA margin at 52.9%, improvement of 94 bps YoY
    • India business posts EBITDA of Rs 15,000 crore, EBITDA margin at 53.9%, up 119 bps YoY
  • Consolidated EBIT at Rs 9,844 crore; EBIT margin at 26.0%, improvement of 11 bps YoY
    • India business posts EBIT of Rs 6,509 crore; EBIT margin at 23.4%, expansion of 82 bps YoY
  • Consolidated Net income (before Exceptional items) at Rs 2,492 crore, up by 25.0%YoY Consolidated Net income (after Exceptional items) at Rs 2,442 crore, up by 53.8% YoY
  • Industry-leading operational indicators showcasing strong business momentum and solid execution
    • 4G/5G data customers up by 28.2 million YoY & 7.4 million QoQ, 71% of the overall mobile customer base
    • Postpaid net adds of 0.9 million in Q3’24
    • Mobile ARPU increased to Rs 208 in Q3’24 vs Rs 193 in Q3’23
    • Mobile data consumption up by 21.1% YoY, consumption per customer at 22.0 GB per month
    • Homes business saw continued growth with 359k customer net additions in Q3’24
    • Digital TV net adds at 388k – Highest in last 12 quarters
  • Prepaid Rs 8,325 crore in Jan’24 and Rs 16,349 crore in YTD Financial Year ’24 to the Department of Telecom towards part prepayment of deferred liabilities pertaining to spectrum acquired in 2015 auction
  • Acquired 97.1% stake in Jan’24 in Beetel Teletech along with its 49% stake in Dixon Electro Appliances Private Limited

In a statement, Gopal Vittal, MD, said: “We have delivered yet another quarter of consistent and competitive growth across all our businesses. Revenue from India business sustained its momentum and grew sequentially by 3.0%, while the consolidated revenue was impacted by the devaluation of the Nigerian Naira and Malawian Kwacha. The quarter witnessed a strong growth trajectory for the postpaid and Homes business, while our DTH business added 388k net adds – the highest in the last 12 quarters. We remain on course with our strategy of premiumization that helped us add 7.4 million 4G/5G customers and exit the quarter with an industry leading ARPU of Rs 208. Even at this ARPU, our return on capital employed however, continues to be low at 9.4 percent. To ensure industry health, tariff repair is extremely critical.”

 

Result PDF

Telecom Services company Bharti Airtel announced Q2FY24 results:

1. Financial Performance:
- Bharti Airtel's consolidated revenues for Q2FY24 reached Rs 37,044 crore, showing a growth of 7.3% YoY.
- India business posted revenues of Rs 26,995 crore, with a YoY growth of 10.9%.
- Consolidated EBITDA was recorded at Rs 19,665 crore, with an EBITDA margin of 53.1%, showing an improvement of 176 bps YoY.
- Consolidated net income (before exceptional items) stood at Rs 2,960 crore, marking a YoY growth of 44.2%.

2. Business Segments:
- Mobile services in India experienced strong revenue growth of 11.0% YoY, driven by significant 4G/5G customer additions and an increase in average revenue per user (ARPU).
- Airtel Business revenues grew by 9.5% YoY, benefiting from the synergies of connectivity solutions.
- The Homes business showed a revenue growth of 23.3% YoY, supported by robust customer additions.
- Digital TV maintained its market position, with revenues increasing by 3.1% YoY.

3. Operational Indicators:
- Bharti Airtel added 27.2 million 4G/5G data customers YoY, reaching a total of 69% of its mobile customer base.
- The company achieved its highest-ever postpaid net additions with 1.0 million in Q2'24.
- Mobile average revenue per user (ARPU) increased to Rs 203 in Q2'24 from Rs 190 in Q2'23.
- Mobile data consumption grew by 19.6% YoY, with an average consumption of 21.7 GB per customer per month.

4. Business Highlights:
- Bharti Airtel successfully tested India's first Reduced Capability (RedCap) technology on its 5G network in partnership with Ericsson, aiming to extend battery life and deliver higher data speeds.
- The Homes business witnessed a record-high 471k customer net additions in Q2'24, bringing the total customer base to 6.9 million.
- Airtel Business showcased industry-leading organic revenue growth of 9.5% YoY.
- Digital TV maintained a strong market position, with a customer base of 15.7 million.

Gopal Vittal, MD, Bharti Airtel, said, “This has been yet another quarter of solid revenue growths and improved margins. Our India revenue continues to gain momentum and grew sequentially by 2.4%. Our consolidated revenue however was impacted by the devaluation of the Nigerian Naira. Consolidated EBITDA margins expanded to 53.1% supported by a strong war on Waste program. We added 7.7 million 4G/5G net adds and exited the quarter with an industry-leading ARPU of 203. Our Postpaid and Homes businesses continued their strong growth trajectory as we added the highest ever net adds in both these segments in any single quarter. Our performance is underpinned by a simple and consistent strategy of focusing on quality customers and delivering the best experience to them in a seamless digital way.” 

 

 

Result PDF

Telecom Services company Bharti Airtel announced consolidated Q1FY24 results:

  • Overall customer base stands at ~529 million across 16 countries
  • Total revenues at Rs 37,440 crore, up 14.1% YoY
  • EBITDA at Rs 19,746 crore, up 18.9% YoY; EBITDA margin at 52.7%, expansion of 212 bps YoY
  • EBIT at Rs 10,079 crore, up 29.0% YoY; EBIT margin at 26.9%, expansion of 310 bps YoY
  • Net Income (before exceptional items) at Rs 2,902 crore
  • Net income (after exceptional items) at Rs 1,612 crore
  • Capex for the quarter at Rs 10,486 crore

In a statement, Gopal Vittal, MD, said, “We have delivered yet another quarter of strong and competitive growth across all our businesses. Our consolidated revenue grew sequentially by 4.0%, and the EBITDA margin expanded to 52.7%, underscoring the simplicity and execution of our strategy. Our focus on winning quality customers and driving premiumization has helped us add 5.6 million new 4G customers and the highest-ever postpaid customers in any one quarter. We exit the quarter with an industry-leading ARPU of Rs 200. Homes, enterprises, and our digital businesses continue to exhibit strong growth momentum, reflecting the resilience and strength of our overall portfolio.

We continue to make strides on our ESG agenda and in leading the charter in India for sustainable practices”

 

Result PDF

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