Results - Analysis
Bharti Airtel As on : 05-Aug-26  06:19

On consolidated basis

Quarter ended June 2026 compared with Quarter ended June 2025.

Net sales (including other operating income) of Bharti Airtel has increased 18.35% to Rs 58539.1 crore.  Sales of Mobile Services India segment has gone up 9.24% to Rs 29,928.90 crore (accounting for 46.16% of total sales).  Sales of Mobile Service Africa segment has gone up 45.37% to Rs 17,565.70 crore (accounting for 27.09% of total sales).  Sales of Airtel Business segment has gone up 12.03% to Rs 5,665.40 crore (accounting for 8.74% of total sales).  Sales of Homes Service segment has gone up 33.16% to Rs 2,287.50 crore (accounting for 3.53% of total sales).  Sales of Digital TV Servies segment has gone up 1.39% to Rs 773.40 crore (accounting for 1.19% of total sales).  Sales of Others segment has gone down 10.20% to Rs 96.80 crore (accounting for 0.15% of total sales).  Sales of segment has gone up 5.37% to Rs 8,525.40 crore (accounting for 13.15% of total sales).  Inter-segment sales rose Rs 5,754.30 crore to Rs 6,304.00 crore.  

Profit before interest, tax and other unallocable items (PBIT) has jumped 22.46% to Rs 20,739.50 crore.  PBIT of Mobile Services India segment rose 18.16% to Rs 9,955.60 crore (accounting for 48.00% of total PBIT).  PBIT of Mobile Service Africa segment rose 56.02% to Rs 5,969.50 crore (accounting for 28.78% of total PBIT).  PBIT of Airtel Business segment rose 18.22% to Rs 1,840.40 crore (accounting for 8.87% of total PBIT).  PBIT of Homes Service segment fell 14.47% to Rs 252.90 crore (accounting for 1.22% of total PBIT).  PBIT of Digital TV Servies reported loss of Rs 78.40 crore compared to profit of Rs 2.30 crore.  PBIT of Others segment rose 7.40% to Rs 71.10 crore (accounting for 0.34% of total PBIT).  PBIT of segment fell 1.25% to Rs 2,728.40 crore (accounting for 13.16% of total PBIT).  

PBIT margin of Mobile Services India segment rose from 30.75% to 33.26%.  PBIT margin of Mobile Service Africa segment rose from 31.66% to 33.98%.  PBIT margin of Airtel Business segment rose from 30.78% to 32.48%.  PBIT margin of Homes Service segment fell from 17.21% to 11.06%.  PBIT margin of Digital TV Servies segment fell from 0.30% to 10.14%.  PBIT margin of Others segment rose from 61.41% to 73.45%.  PBIT margin of segment fell from 34.15% to 32.00%.  Overall PBIT margin rose from 30.67% to 31.98%.  

Operating profit margin has jumped from 56.28% to 56.89%, leading to 19.63% rise in operating profit to Rs 33,302.80 crore.  Employee cost increased from 3.51% to 3.72%.   Other expenses fell from 40.20% to 39.39%.   Selling and administration expenses rose from 6.00% to 6.31%.   Telecommuncation charges fell from 29.36% to 28.31%.   

Other income rose 78.18% to Rs 906.6 crore.  PBIDT rose 20.68% to Rs 34209.4 crore.  Provision for interest rose 9.08% to Rs 5956.4 crore.  

PBDT rose 23.45% to Rs 28253 crore.  Provision for depreciation rose 14.20% to Rs 14235 crore.  

Profit before tax grew 34.51% to Rs 14,018.00 crore.  Share of profit/loss was 30.68% higher at Rs 108.2 crore.  Provision for tax was expense of Rs 3761.2 crore, compared to Rs 3082.6 crore.  Effective tax rate was 27.31% compared to 29.35%.

Minority interest increased 25.12% to Rs 1,844.20 crore.  Net profit attributable to owners of the company increased 37.32% to Rs 8,167.40 crore.  

Promoters' stake was 50.07% as of 30 June 2026 ,compared to 51.25% as of 30 June 2025 .  

Full year results analysis.

Net sales (including other operating income) of Bharti Airtel has increased 21.96% to Rs 210972.8 crore.  Sales of Mobile Services India segment has gone up 12.71% to Rs 112,995.40 crore (accounting for 48.11% of total sales).  Sales of Mobile Service Africa segment has gone up 35.64% to Rs 56,806.40 crore (accounting for 24.19% of total sales).  Sales of Airtel Business segment has gone down 4.15% to Rs 21,176.60 crore (accounting for 9.02% of total sales).  Sales of Homes Service segment has gone up 31.68% to Rs 7,774.70 crore (accounting for 3.31% of total sales).  Sales of Digital TV Servies segment has gone down 1.40% to Rs 3,017.90 crore (accounting for 1.29% of total sales).  Sales of Others segment has gone up 11.64% to Rs 388.30 crore (accounting for 0.17% of total sales).  Sales of PAssive Infrastructure Services segment has gone up 189.54% to Rs 32,694.40 crore (accounting for 13.92% of total sales).  Inter-segment sales rose Rs 11,936.90 crore to Rs 23,880.90 crore.  

Profit before interest, tax and other unallocable items (PBIT) has jumped 36.33% to Rs 73,494.70 crore.  PBIT of Mobile Services India segment rose 35.48% to Rs 35,766.10 crore (accounting for 48.66% of total PBIT).  PBIT of Mobile Service Africa segment rose 50.67% to Rs 18,793.60 crore (accounting for 25.57% of total PBIT).  PBIT of Airtel Business segment rose 6.69% to Rs 6,359.80 crore (accounting for 8.65% of total PBIT).  PBIT of Homes Service segment fell 8.60% to Rs 1,222.70 crore (accounting for 1.66% of total PBIT).  PBIT of Digital TV Servies reported loss of Rs 205.60 crore compared to profit of Rs 115.60 crore.  PBIT of Others segment rose 62.24% to Rs 330.80 crore (accounting for 0.45% of total PBIT).  PBIT of PAssive Infrastructure Services segment rose 50.35% to Rs 11,227.30 crore (accounting for 15.28% of total PBIT).  

PBIT margin of Mobile Services India segment rose from 26.33% to 31.65%.  PBIT margin of Mobile Service Africa segment rose from 29.78% to 33.08%.  PBIT margin of Airtel Business segment rose from 26.98% to 30.03%.  PBIT margin of Homes Service segment fell from 22.66% to 15.73%.  PBIT margin of Digital TV Servies segment fell from 3.78% to 6.81%.  PBIT margin of Others segment rose from 58.63% to 85.19%.  PBIT margin of PAssive Infrastructure Services segment fell from 66.13% to 34.34%.  Overall PBIT margin rose from 29.15% to 31.29%.  

Operating profit margin has jumped from 53.85% to 56.73%, leading to 28.46% rise in operating profit to Rs 119,674.50 crore.  Employee cost decreased from 3.65% to 3.59%.   Other expenses fell from 42.50% to 39.68%.   Selling and administration expenses fell from 6.62% to 6.21%.   Telecommuncation charges fell from 31.51% to 28.75%.   

Other income rose 79.02% to Rs 2817.3 crore.  PBIDT rose 29.30% to Rs 122491.8 crore.  Provision for interest fell 0.91% to Rs 21555.3 crore.  Loan funds declined from Rs 213,642.10 crore as of 31 March 2025 to Rs 195,411.70 crore as of 31 March 2026.  Inventories rose to Rs 600.90 crore as of 31 March 2026 from Rs 451.70 crore as of 31 March 2025.  Sundry debtors were higher at Rs 7,977.60 crore as of 31 March 2026 compared to Rs 7,455.70 crore as of 31 March 2025.  Cash and bank balance rose to Rs 30,376.80 crore as of 31 March 2026 from Rs 16,719.90 crore as of 31 March 2025.  Investments rose to Rs 18,901.30 crore as of 31 March 2026 from Rs 5,838.30 crore as of 31 March 2025 .  

PBDT rose 38.31% to Rs 100936.5 crore.  Provision for depreciation rose 15.67% to Rs 52710.8 crore.  Fixed assets declined from Rs 347,769.70 crore as of 31 March 2025 to Rs 237,003.40 crore as of 31 March 2026.  Intangible assets increased from Rs 51,697.40 crore to Rs 182,271.30 crore.  

Profit before tax grew 75.95% to Rs 48,225.70 crore.  Share of profit/loss was 90.16% lower at Rs 364.5 crore.  Provision for tax was expense of Rs 11349.9 crore, compared to Rs 917.2 crore.  Effective tax rate was 25.13% compared to 2.39%.

Minority interest increased 81.59% to Rs 7,127.60 crore.  Net profit attributable to owners of the company decreased 20.45% to Rs 26,695.20 crore.  

Equity capital increased from Rs 2,900.10 crore as of 31 March 2025 to Rs 3,046.80 crore as of 31 March 2026.  Per share face Value remained same at Rs 5.00.  

Promoters' stake was 48.87% as of 31 March 2026 ,compared to 52.42% as of 31 March 2025 .  

Cash flow from operating activities increased to Rs 122,229.60 crore for year ended March 2026 from Rs 98,332.20 crore for year ended March 2025.  Cash flow used in acquiring fixed assets during the year ended March 2026 stood at Rs 46,714.20 crore, compared to Rs 39,679.90 crore during the year ended March 2025.  

 

Operational Highlights:

India business revenues came in at Rs 41,214 crore, up 9.7% YoY and 4.2% QoQ. Revenue growth was driven by sustained portfolio premiumisation in Mobile & strong momentum in Homes and Airtel Business

India mobile revenue up 9.2% YoY, driven by improved ARPU and strong gains in smartphone data customers.

       Smartphone data customers increased by 21.1 million YoY and 5.0 million QoQ, now representing 80% of total mobile customers

       Robust postpaid net additions of 1.0 million in Q1'27 ' highest ever additions in any quarter

       Industry leading Mobile ARPU at Rs 264 vs Rs 250 in Q1'26.

       Mobile data consumption rose 36.0% YoY, reaching 34.4 GB per customer per month

Homes recorded another robust quarter, posting 33.2% YoY revenue growth, backed by our focus on quality customers and convergence agenda.

Airtel Business delivered revenue growth of 12.0% YoY, led by healthy orderbook execution and strong momentum in digital services portfolio.

Digital TV revenues saw increase of 1.4% YoY. IPTV acceleration continues to support underlying growth.

Revenue from Passive Infrastructure Services increased 4.6% YoY, supported by new site rollouts and colocation expansions

Management Commentary:

Commenting on the performance Mr Gopal Vittal, MD & CEO, said:  We delivered yet another quarter of strong performance, supported by the resilience of our diversified portfolio and sharp execution across businesses. Consolidated revenue rose 5.7% sequentially to ? 58,539 crore with strong growth momentum across India and Africa. India revenue increased 4.2% sequentially while Africa delivered 5.7% constant currency growth. During the quarter, we completed a large and an EPS accretive share swap transaction to increase our stake in Airtel Africa to over 79%. This is a strong reflection of our conviction in Africa's long-term growth potential and the significant opportunities across our businesses.

ndia Mobile achieved sequential growth of 3.8%, driven by continued portfolio mix improvement. Our postpaid strategy continues to deliver strong outcomes with highest ever customer additions of 1 million. We added 5 million  martphone customers with an industry leading ARPU of Rs 264 .

The Homes business saw strong momentum with revenue growth of 4.4% QoQ and 473 K customer additions, underpinned by our focus on quality acquisitions and driving convergence.

Airtel Business also delivered 3.2% sequential revenue growth, led by strong performance across the portfolio.

Our balance sheet remains strong, reflecting disciplined capital allocation and focused investments to future-proof Airtel

Bharti Airtel : Consolidated Results

Quarter ended Year ended Particulars 202606 202506 Var.(%) 202603 202503 Var.(%) Net Sales (including other operating income) 58,539.10 49,462.60 18.35 210,972.80 172,985.20 21.96 OPM (%) 56.89 56.28 61 bps 56.73 53.85 287 bps OP 33,302.80 27,838.70 19.63 119,674.50 93,159.20 28.46 Other Inc. 906.60 508.80 78.18 2,817.30 1,573.70 79.02 PBIDT 34,209.40 28,347.50 20.68 122,491.80 94,732.90 29.30 Interest 5,956.40 5,460.80 9.08 21,555.30 21,753.90 -0.91 PBDT 28,253.00 22,886.70 23.45 100,936.50 72,979.00 38.31 Depreciation 14235 12465.1 14.20 52710.8 45570.3 15.67 PBT 14,018.00 10,421.60 34.51 48225.7 27408.7 75.95 Share of Profit/(Loss) from Associates 108.2 82.8 30.68 364.5 3703 -90.16 PBT before EO 14126.2 10504.4 34.48 48590.2 31111.7 56.18 EO Income -353.4 0 - -3417.5 7286.8 PL PBT after EO 13772.8 10504.4 31.11 45172.7 38398.5 17.64 Taxation 3761.2 3082.6 22.01 11349.9 917.2 1,137.45 PAT 10011.6 7421.8 34.89 33822.8 37481.3 -9.76 Minority Interest (MI) 1844.2 1473.9 25.12 7127.6 3925.2 81.59 Net profit 8167.4 5947.9 37.32 26695.2 33556.1 -20.45 P/(L) from discontinued operations net of tax 0 0 - 0 0 - Net profit after discontinued operations 8167.4 5947.9 37.32 26695.2 33556.1 -20.45 EPS (Rs)* 13.42 9.53 40.82 46.00 43.73 5.19 * EPS is on current equity of Rs 3,120.02 crore, Face value of Rs 5, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

Bharti Airtel : Consolidated Segment Results

Quarter ended Year ended % of (Total) 202606 202506 Var.(%) % of (Total) 202603 202503 Var.(%) Sales Mobile Services India 46.16 29,928.90 27,396.60 9.24 48.11 112,995.40 100,250.00 12.71 Mobile Service Africa 27.09 17,565.70 12,083.40 45.37 24.19 56,806.40 41,879.50 35.64 Mobile Service S.A 0.00 0.00 0.00 - Airtel Business 8.74 5,665.40 5,057.10 12.03 9.02 21,176.60 22,093.50 -4.15 Tower Infrastructure 0.00 0.00 0.00 - Homes Service 3.53 2,287.50 1,717.90 33.16 3.31 7,774.70 5,904.40 31.68 Digital TV Servies 1.19 773.40 762.80 1.39 1.29 3,017.90 3,060.80 -1.40 Others 0.15 96.80 107.80 -10.20 0.17 388.30 347.80 11.64 Mobile Service Ind & S.A 0.00 0.00 0.00 -   13.15 8,525.40 8,091.30 5.37 13.92 32,694.40 11,292.00 189.54 Total Reported Sales 100.00 64,843.10 55,216.90 17.43 100.00 234,853.70 184,922.10 27.00 Less: Inter segment revenues   6,304.00 5,754.30 9.55   23,880.90 11,936.90 100.06 Net Sales 100.00 58,539.10 49,462.60 18.35 100.00 210,972.80 172,985.20 21.96 PBIT Mobile Services India 48.00 9,955.60 8,425.40 18.16 48.66 35,766.10 26,400.00 35.48 Mobile Service Africa 28.78 5,969.50 3,826.10 56.02 25.57 18,793.60 12,473.30 50.67 Mobile Service S.A 0.00 0.00 0.00 - Airtel Business 8.87 1,840.40 1,556.70 18.22 8.65 6,359.80 5,961.10 6.69 Tower Infrastructure 0.00 0.00 0.00 - Homes Service 1.22 252.90 295.70 -14.47 1.66 1,222.70 1,337.80 -8.60 Digital TV Servies -0.38 -78.40 2.30 PL -0.28 -205.60 115.60 PL Others 0.34 71.10 66.20 7.40 0.45 330.80 203.90 62.24 Mobile Service Ind & S.A 0.00 0.00 0.00 -   13.16 2,728.40 2,763.00 -1.25 15.28 11,227.30 7,467.20 50.35 Total PBIT 100.00 20,739.50 16,935.40 22.46 100.00 73,494.70 53,908.60 36.33 Less : Interest 5,616.90 5,199.10 8.04 19,873.90 21,018.70 -5.45 Add: Other un-allcoable -1,349.80 -1,231.90 -9.57 -8,448.10 5,508.60 PL PBIT Margin(%) Mobile Services India   33.26 30.75 251.07   31.65 26.33 531.85 Mobile Service Africa   33.98 31.66 231.97   33.08 29.78 329.98 Mobile Service S.A   0.00 0.00 0.00   0.00 -53.45 5,345.38 Airtel Business   32.48 30.78 170.24   30.03 26.98 305.10 Tower Infrastructure   0.00 0.00 0.00 Homes Service   11.06 17.21 -615.71   15.73 22.66 -693.10 Digital TV Servies   -10.14 0.30 -1,043.86   -6.81 3.78 -1,058.95 Others   73.45 61.41 1,204.04   85.19 58.63 2,656.62 Mobile Service Ind & S.A   0.00 0.00 0.00     32.00 34.15 -214.46   34.34 66.13 -3,178.81 PBT 100.00 13,772.80 10,504.40 31.11 100.00 45,172.70 38,398.50 17.64

Powered by Capital Market - Live News