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Bharti Airtel is set to announce its Q4 FY25 results on May 13, with analysts anticipating steady performance from its core India business, driven by subscriber growth and the full consolidation of Indus Towers.
India revenue is projected to grow by nearly 38% YoY to around ₹39,800 crore, thanks to the inclusion of Indus Towers since November 2024. Excluding this, underlying mobile revenue is expected to grow ~19% YoY, highlighting Airtel's operational strength.
ARPU is forecasted to remain flat QoQ at ₹245, sustaining its industry-leading position. This indicates that while the mid-2024 tariff hikes have played out, gains now stem from users upgrading to premium 5G plans and unlimited data packs.
The quarter is also expected to see 3-4 million net mobile additions, including approximately 6 million new 4G/5G smartphone users, as Airtel expands coverage and benefits from Vodafone Idea's market weakness.
Margins are expected to hold firm, with EBITDA remaining stable QoQ, supported by operational scale benefits even as 5G rollout costs rise. Notably, the India EBITDA margin had improved to 57.3% by Q3 FY25.
Some short-term drags could affect performance, including the exit from low-margin wholesale voice/messaging and fewer billing days in the quarter. Airtel's enterprise business (13% of revenues) may also see minor headwinds.
From an investment perspective, Value Research Online rates the stock at 5/10 on Quality, 7/10 on Growth, 3/10 on Valuation, and 10/10 on Momentum. The high momentum reflects recent stock outperformance, but investors should note the rich valuation amid moderate return metrics.
With core metrics remaining strong and subscriber momentum intact, Airtel's Q4 results are expected to reinforce its position as a leading telecom player heading into FY26. However, high investor expectations leave little room for earnings disappointment.
For detailed financial information, visit our stock page- Bharti Airtel Ltd.
Disclaimer: This article has been written with the assistance of Artificial Intelligence. While our digital writer has been trained to follow our editorial style, we recommend applying a critical eye while reading. Enjoy the story — and keep smiling with understanding!
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