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Motilal Oswal Report
Bharti Airtel Ltd. displayed a good performance in Q3 FY21 for the second quarter in a row, with a consolidated Ebitda jump of 9% QoQ (5% beat).
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This was attributable to strong market share gains and average revenue per user improvement, aided by operating leverage in Mobile India.
The Africa business also continued its good run.
We marginally raise our FY22E consolidated Ebitda, factoring in steady 20% Ebitda growth in FY22 over a stellar 28% growth in FY21.
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