Whalesbook
Toh bhaiyo, Bharti Airtel ne apna Q4 FY26 ka result nikala hai, aur numbers dekhne layak hain. Company ne net profit mein ek tagda 10.5% ka jump dikhaya hai, jo ab ₹7,325 crore ho gaya hai. Revenue bhi 2.6% badh kar ₹55,383 crore tak pahunch gaya. Jabardast!
Par yahan ek choti si catch hai. Jab hum ARPU (Average Revenue Per User) ki baat karte hain, toh woh sequential basis par ₹259 se halka sa gir kar ₹257 par aa gaya hai. Haan, agar saal dar saal compare karein toh 5% ka growth hai (₹245 se ₹257), jo ki positive hai. Lekin quarter-on-quarter iski kami investors ko thoda sochne par majboor kar rahi hai. Kya ye competition ka pressure hai ya kuch aur?
Achhi baat yeh hai ki company ka EBITDA margin 56.9% par stable bana hua hai, matlab operational efficiency control mein hai. Aur toh aur, company ne ₹24 प्रति share ka final dividend bhi recommend kiya hai, jo shareholders ke liye ek good news hai.
Ab competition ki baat karein toh, telecom sector mein full-on tiff chal rahi hai. Reliance Jio ka profit bhi lagbhag Airtel ke barabar, ₹7,317 crore aaya hai, aur unka ARPU ₹214 hai. India mein 5G ke liye ₹3 lakh crore tak ka investment ka andaaza hai, toh companies ko future ke liye cost cutting aur revenue generation dono par focus karna padega. Airtel ka ₹257 ka ARPU abhi bhi market se zyada hai, par ye sequential dip ko nazarandaaz nahi kar sakte. Stock ki market cap around USD 114.27 billion hai aur P/E ratio 31.4x to 36.9x ke beech mein hai.
Analysts ka outlook positive hai. Unka kehna hai ki stock ₹1,800 se ₹2,100 tak ja sakta hai next 12 months mein. Long term mein toh ₹2,300–₹2,800 tak bhi ja sakta hai, agar ARPU badhta raha aur 5G monetization sahi raha toh. Bas global market ke factors aur FIIs ki selling pressure ka dhyan rakhna hoga.