Bharti Airtel Q4 Results Review - Tariff Hike Key Monitorable: Prabhudas Lilladher

"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..Prabhudas Lilladher Report.Bharti Airtel Ltd. reported Ebitda/profit after tax of Rs 193.6 billion (-2.3% QoQ; our estimate: Rs 203 billion) and Rs 20.7 billion (-15.2%QoQ; our estimate: Rs 22 billion). India mobile revenues were up 2% QoQ with a stable Ebitda margin of 55.1%. Average revenue per user grew marginally QoQ to Rs 209 (our estimate: Rs 211) with a net subscriber addition of 6.7 million in Q4. Enterprise revenue grew 5.1% QoQ, while Ebitda remained flat with a 156 bps fall in margins. Home services (fixed line + broadband) had an average revenue per user decline of 1%. Similarly, DTH ARPU too fell 2% QoQ. Africa mobile revenue/Ebitda declined 9.8%/13.2% QoQ due to currency devaluation. Due to falling competitive intensity, given weak financial position of peers we maintain ‘Accumulate’ rating at SOTP based target price of Rs 1373 based on 12 times FY26 enterprise value/Ebitda for India mobile business, six times FY26 EV/Ebitda for Airtel Africa, enterprise segment at nine times FY26 EV/Ebitda, three times FY26 EV/Ebitda for DTH and six times EV/Ebitda for home services..Click on the attachment to read the full report:.Bharti Airtel Q4 Results Review - Strong Business Matrix; ARPU Gains Continue: Axis Securities.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 Q4 Results Review - Tariff Hike Key Monitorable: Prabhudas Lilladher

ARPU came in at Rs 209; net subscriber addition was at 6.7 million in Q4

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Bharti Airtel Q4 Results Review - Tariff Hike Key Monitorable: Prabhudas Lilladher

ARPU came in at Rs 209; net subscriber addition was at 6.7 million in Q4

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