Bharti Airtel Ltd — Performance & Outlook

FY25 / Q4 FY25 Financial Highlights • Consolidated revenue grew around 15.3% YoY in FY25 to approximately ₹1,72,985 crore. • Q4 FY25 revenue was about ₹47,876 crore, up 27.3% YoY. • EBITDA for FY25 stood near ₹94,249 crore with a margin of 54.5%. • In Q4, EBITDA grew nearly 39.9% YoY with a margin of 57.2%. • FY25 net profit surged sharply to around ₹37,481 crore, supported by exceptional gains and tax adjustments. Operational Metrics & Business Trends • Average Revenue Per User (ARPU) rose to ₹245 in Q4 FY25 from ₹209 a year earlier. • Subscriber base across Airtel markets reached around 590–591 million by end-FY25. • India mobile business saw strong growth from tariff hikes, higher data usage, and more premium users. • Home broadband and fixed wireless services grew roughly 21% YoY. Recent Q1 FY26 Snapshot • Consolidated revenue was about ₹49,463 crore, up 28.5% YoY. • Net profit rose 43% YoY to roughly ₹5,948 crore. • ARPU improved to ₹250. • India subscriber base reached around 436 million. Strengths & Competitive Position • Strong ARPU growth and customer premiumization drive profitability. • Diversification into broadband, enterprise, and digital services supports stability. • Healthy balance sheet, improving cash flows, and better cost control sustain margins. • Africa business provides geographic diversification. Risks & Challenges • Part of FY25 profit came from exceptional or non-recurring gains. • High capex for 5G rollout and spectrum may pressure near-term free cash flow. • Competition from Reliance Jio keeps pricing power limited. • Regulatory and currency risks, especially in African markets. Outlook Airtel is well-positioned for continued growth through higher ARPU, 5G expansion, and broadband penetration. Focus remains on monetization rather than just volume growth. Margins could strengthen as premium customer base rises and network investments start yielding returns.