Whalesbook
Profit After Tax Decline Amidst Revenue Growth
Bharti Airtel reported consolidated revenues of ₹55,383 crore for the fourth quarter of fiscal year 2026, a 15.7% increase from the ₹47,786 crore posted in the same period last year. This top-line growth was accompanied by a robust 21.4% rise in consolidated EBIT to ₹18,156 crore. Profit Before Tax also saw a substantial 35.8% jump to ₹13,205 crore. However, consolidated Profit After Tax, after accounting for exceptional items, registered a 33.5% year-on-year decline, settling at ₹7,325 crore compared to ₹11,022 crore in Q4FY25.
India Business Performance and ARPU Improvement
Domestically, Bharti Airtel's revenues grew 7.7% year-on-year to ₹39,566 crore. The company's mobile services in India experienced an 8.3% revenue uplift, fueled by customer acquisitions and enhanced realization rates. A key telecom metric, Average Revenue Per User (ARPU), improved to ₹257 from ₹245 in the prior year's quarter. The Homes business also demonstrated strong momentum, with revenues climbing 37% to ₹2,191 crore, and EBITDA margins for the segment holding steady at 50.2%.
Global Customer Base and Network Expansion
During the quarter, Bharti Airtel surpassed the milestone of 650 million customers globally, solidifying its position as the world's second-largest telecom operator by customer base. The company continued its aggressive network expansion, deploying 2,426 towers and 16,746 mobile broadband base stations. Over the full fiscal year 2026, Airtel added 7,883 towers and laid 43,290 kilometers of fiber optic cable to bolster its digital infrastructure.
Full-Year Financials and Debt Reduction
For the fiscal year ended March 31, 2026, consolidated revenues reached ₹2,10,973 crore, marking a 22% increase from FY25. Consolidated EBITDA grew by 22% to ₹1,21,268 crore, with an improved EBITDA margin of 57.5%. The company reported a consolidated net profit of ₹26,695 crore for the year. Significant deleveraging was evident as consolidated net debt, excluding lease obligations, reduced to ₹91,049 crore from ₹1,38,509 crore a year prior, bringing the Net Debt-to-EBITDA ratio down to 0.79x.
Strategic Investments and Partnerships
Bharti Airtel announced substantial strategic moves. Nxtra Data Limited, the company's data center arm, secured a $1 billion investment from Alpha Wave Global, Carlyle, and Anchorage Capital to fuel expansion. Furthermore, a partnership with Google aims to deliver secure messaging services in India. In Africa, Airtel Africa collaborated with SpaceX to introduce Starlink Direct-to-Cell services, extending connectivity to remote regions, and forged infrastructure-sharing agreements with Vodacom Group. The Board of Directors recommended a final dividend of ₹24 per share for FY26, subject to shareholder approval.