Bharti Airtel Q2 Results: Profit Grows At Over Twice The Pace Than Revenue, ARPU Hits Rs 271

Bharti Airtel Ltd.'s consolidated net profit for the July–September quarter fell short of analysts' expectations, though the telecom operator's average revenue per user came in slightly ahead of estimates.

Net profit rose 8.8% sequentially to Rs 8,888 crore. Analysts tracked by Bloomberg had estimated Rs 9,293 crore.

ARPU, a key measure of how much the company earns from each subscriber, rose to Rs 271 from Rs 264 in the previous quarter, slightly ahead of the Street's estimate of Rs 269.6.

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The rest of the scorecard was stronger. Revenue grew 4% over the previous quarter to Rs 60,878 crore, beating the consensus estimate of Rs 60,140 crore. Operating income, or earnings before interest, taxes, depreciation and amortisation, rose 4.9% to Rs 34,946 crore, also above the Rs 34,406 crore analysts had pencilled in.

Margin widened to 57.4% from 56.9% in the April–June quarter, compared with an estimate of 57.2%.

Bharti Airtel Q2 FY27 Highlights (Consolidated, QoQ)

• Revenue up 4% at Rs 60,878 crore versus Rs 58,539 crore (Bloomberg estimate: Rs 60,140 crore).
• Ebitda up 4.9% at Rs 34,946 crore versus Rs 33,303 crore (Bloomberg estimate: Rs 34,406 crore).
• Ebitda margin at 57.4% versus 56.9% (Bloomberg estimate: 57.2%).
• Net profit up 8.8% at Rs 8,888 crore versus Rs 8,167 crore (Bloomberg estimate: Rs 9,293 crore).
• ARPU at Rs 271 vs Rs 264 (Bloomberg estimate: Rs 269.6).

According to Airtel's regulatory filing, India revenue rose 9.4% year-on-year to Rs 42,308 crore. The mobile business grew 10.1% to Rs 30,943 crore, helped by better realisations and a record 1.2 million postpaid additions, which took the postpaid base to 31.2 million. Mobile subscriber additions slowed sharply, though, to 7.16 lakh from 32.65 lakh in the June quarter, and monthly churn rose to 2.9% from 2.6%.

The Homes broadband business grew revenue 25.3% year-on-year and added 6.76 lakh customers, but its ARPU slipped to Rs 509 from Rs 523. The Digital TV business lost about 4.43 lakh subscribers during the quarter.

Africa revenue grew 20.6% year-on-year in constant currency to $1,958 million, and 25.7% in reported terms.

Before the quarterly results were declared, shares of Bharti Airtel closed 0.52% lower at Rs 2,056.90 apiece on the NSE, compared with a 2.40% gain in the benchmark Nifty 50.

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