Bharti Airtel Q2 Results Review - Time Correction Likely; Reiterate ‘Reduce': Dolat Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Bharti Airtel Ltd.’s Q2 FY25 operating and financial performance were robust and ahead of estimates. Consolidated revenue grew 12/7.7%, Ebitda 12/10.9% and adjusted profit after tax by 53/30% YoY/QoQ aided by tariff hikes. The company’s solid growth trajectory driven by superior execution positions it as a healthy compounding story with multiple triggers including-tariff hike-led average revenue per user growth (~13% CAGR over FY24-27), with another hike ~15-18 months away,5G pick-up, accelerated growth in Home BB and Enterprise,benefits from deleveraging,weakening of Vodafone Idea Ltd. andpotential listing of Jio. .We maintain our FY25-27E and remain constructive on Bharti Airtel’s growth potential. However, following a sharp stock price run-up of 12/23/77% in last 3/6/12 months, future catalysts will likely be gradual and priced-in. Recognizing Bharti Airtel as a defensive play that shall do well in a weaker market, we reiterate our ‘Reduce’ rating with target price of Rs 1,700 @ 12.5 times FY27E enterprise value/Ebitda for India Wireless (versus Rs 1,400 at 12 times H1 FY27E)..Click on the attachment to read the full report:.Bharti Airtel Q2 Results: Profit Falls 12%, Misses Estimates.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Bharti Airtel Q2 Results Review - Time Correction Likely; Reiterate ‘Reduce': Dolat Capital

The brokerage maintains its FY25-27E and remain constructive on the company’s growth potential.

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Bharti Airtel Q2 Results Review - Time Correction Likely; Reiterate ‘Reduce': Dolat Capital

The brokerage maintains its FY25-27E and remain constructive on the company’s growth potential.

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