Bharti Airtel Q1 results preview: Check expectations for profit, Arpu

Business Standard

15 hours ago

Bharti Airtel Q1 preview: Bharti Airtel could see a healthy growth in earnings, when it reports its June quarter results for the current financial year (Q1FY26), due to robust subscriber addition and an improvement in average revenue per user (Arpu), suggest analysts. While the telecom services provider's mobile wireless segment is expected to witness a steady growth during the quarter, they see the enterprise vertical posting a decline.
Bharti Airtel Q1 results date, time:
Bharti Airtel has informed the stock exchanges that a meeting of the Board of Directors of the company will be held on Tuesday, August 05, 2025 to consider and take on record the audited financial results (standalone & consolidated) for the first quarter (Q1) ended on June 30, 2025.
Bharti Airtel Q1 results expectations:
Nuvama Institutional Equities
Analysts at Nuvama have baked in a 2.6-per cent quarter-on-quarter (Q-o-Q) growth in consolidated revenue with a 4.3-per cent Q-o-Q growth for the India business and 2.7-per cent Q-o-Q increase (in rupee terms) for the Africa business. In absolute terms, Airtel's Q1FY26 revenue are seen at ₹49,615.3 crore, up from ₹48,362 crore clocked in Q4FY25. On a yearly basis, the consolidated revenue is expected to surge 27.6 per cent over ₹38,869.9-crore revenue reported in Q1FY25. India mobile services business, Nuvama said, shall grow 3.4 per cent Q-o-Q driven by subscriber addition, while Arpu growth shall remain moderate. Consolidated Ebitda is seen at ₹ 28,236.8 crore, a growth of nearly 41 per cent from ₹ 20,071.1-crore earnings before interest, tax, and depreciation reported in the year-ago period, and a growth of 2.7 per cent over an Ebitda of ₹ 27,494.6 crore reported in Q4FY25. Ebitda margin is expected to stay flat Q-o-Q. Among key monitorables, Nuvama said the progress on 5G adoption, capex trajectory, and future tariff hikes will be on investors' radar.
Kotak Institutional Equities
KIE sees Airtel's consolidated revenue improving 25.2 per cent on year and 0.7 per cent on quarter to ₹ 48,224.9 crore. Further, Ebitda is projected to increase nearly 39 per cent Y-o-Y and 1.4 per cent Q-o-Q to ₹ 27,380.8 crore, and Ebit is forecasted at ₹ 15,017 crore, up 63.8 per cent Y-o-Y and 2.3 per cent Q-o-Q. 'We expect a 0.7 per cent and 1.4 per cent Q-o-Q growth in revenue and Ebitda, respectively, led by continued subscriber additions and Arpu growth in India wireless business. We model 3.5 million wireless net adds (versus 5-million gain in Q4FY25) and expect Arpu to increase to ₹250 (versus ₹245 Q-o-Q) during the quarter,' analysts at Kotak Institutional Equities said. Ebitda margin is seen expanding 559 basis points Y-o-Y and 36bps Q-o-Q to 56.8 per cent. Factoring in the above, it arrives at Airtel's reported consolidated net profit of ₹ 64,615, up 55.3 per cent Y-o-Y from ₹4,160 crore reported in Q1FY25. Over Q4FY25 profit of ₹ 11,021.8 crore, it would be a decline of 41.4 per cent.
Prabhudas Lilladher
Analysts at Prabhudas Lilladher factor in net subscriber addition of 3 million and Arpu of ₹248 in Q1FY26. Africa, enterprise business, and home services business, it said, could show steady growth ahead, while direct-to-home (DTH) business could be muted. Overall, consolidated revenue is projected at ₹ 48,749.8 crore, Ebitda at ₹ 26,812.4 crore, and adjusted net profit at ₹ 7,082.5 crore. Ebitda margin is assumed at 55 per cent for the quarter under review.
JM Financial Institutional Equities
The brokerage expects to see a strong addition in mobile broadband (MBB) subscribers, at 5.5 million in Q1FY26 (vs 6.6 million in Q4FY25), even as the overall subscriber addition is seen lower at 2.3 million. Further, Airtel's wireless (India) Arpu is likely to improve to ₹249, as per JM Financial's estimates, due to upgrades, improved subscriber mix, and aided by 1 more day Q-o-Q in Q1FY26. 'Hence, we build in 2.6-per cent Q-o-Q growth in India wireless business revenue to ₹ 27,304.9 crore, and 3.1 per cent Q-o-Q rise in Ebitda to ₹ 16,239.8 crore. We are assuming addition of 750,000 households in FTTH,' it said. In other segments, JM Financial bakes in revenue of ₹ 1,672.5 crore and Ebitda of ₹ 834.3 crore in the Home Services (broadband) segment; revenue of ₹773.6 crore and Ebitda of ₹403.3 crore in DTH segment; revenue of ₹5,156 crore and Ebitda of ₹1,968.3 crore for Enterprise segment; and revenue of ₹11,994.7 crore and Ebitda of ₹5,767.2 crore for Africa business. Overall, the consolidated revenue is projected at ₹ 49,583.9 crore (up 27.6 per cent Y-o-Y/2.5 per cent Q-o-Q); Ebitda at ₹28,410 crore (up 41.5 per cent Y-o-Y/3.3 per cent Q-o-Q); and net profit at ₹11,904.2 crore.