Bharti Airtel Limited has uploaded the audio and video recording of its earnings call held on August 05, 2026, allowing investors and analysts to review management's discussion on the company's audited financial results for the first quarter (Q1) ended June 30, 2026. The recording is now accessible on the company's official website, ensuring transparency and ease of access for stakeholders interested in the detailed performance metrics and strategic outlook presented during the session.

Disclosure Details

The submission was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Bharti Airtel Limited notified both the National Stock Exchange of India Limited and BSE Limited regarding the availability of the recording. The filing confirms that the recording pertains specifically to the Q1FY27 results, covering the period ended June 30, 2026.

Regulatory Compliance

Rohit Krishan Puri, Company Secretary & Compliance Officer at Bharti Airtel Limited, signed the submission digitally on August 05, 2026. The notification serves as a formal record for the stock exchanges, confirming that the company has fulfilled its obligation to make the earnings call recording publicly available. Investors are advised to visit the designated URL on the company's website to access the full recording for a comprehensive understanding of the quarterly performance.

Bharti Airtel reported a 35.5% year-on-year increase in consolidated net income (before exceptional items) to ₹8,057 crore for the quarter ended June 30, 2026, driven by robust revenue growth across its India and Africa operations. Consolidated revenues rose 18.4% to ₹58,539 crore, reflecting sustained momentum in mobile services, homes broadband, and enterprise solutions. The company also completed an EPS-accretive share swap transaction with Indian Continental Investment Limited (ICIL), increasing its effective stake in Airtel Africa Plc from 62.62% to over 79%, reinforcing its long-term growth conviction in the African market. The financial results were reviewed by the Audit Committee and approved by the Board of Directors on August 4, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Deloitte Haskins & Sells LLP served as the independent auditor for the interim consolidated and standalone financial statements prepared under Ind AS 34.

Financial Performance

Consolidated EBITDA came in at ₹33,599 crore for the quarter, surpassing the street estimate of ₹32,600 crore. The EBITDA margin stood at 57.4%, expanding from 56.9% in the corresponding quarter last year. On a sequential basis, EBITDA grew 4.9% to ₹33,599 crore from ₹32,038 crore in the previous quarter. Earnings before interest and tax (EBIT) rose 23.4% year-on-year to ₹19,282 crore, delivering an EBIT margin of 32.9%. Profit before tax increased 34.5% to ₹14,126 crore, benefiting from higher operating profits despite a rise in finance costs.

Consolidated net profit for the quarter stood at ₹8,057 crore, compared to ₹5,948 crore in the prior year period. Revenue for the quarter was ₹58,539 crore, against ₹49,463 crore in the prior year, exceeding the estimate of ₹57,050 crore. The net debt-to-EBITDA ratio (annualized) improved significantly to 1.17 times from 1.70 times as of June 30, 2025, underscoring disciplined balance sheet management. Consolidated capex stood at ₹13,386 crore, with India capex at ₹9,698 crore.

The following table summarizes key financial metrics on both a year-on-year and sequential basis:

India and Africa Operations

India operations contributed ₹41,214 crore to revenues, up 9.7% year-on-year. Mobile services revenue grew 9.2% to ₹29,929 crore, supported by a 5.4% increase in Average Revenue Per User (ARPU) to ₹264. The Homes segment posted robust 33.2% revenue growth to ₹2,288 crore, adding 473,000 customers during the quarter. Airtel Business delivered 12.0% revenue growth to ₹5,665 crore, led by digital services and connectivity solutions. Digital TV revenues saw a 1.4% YoY increase, while Passive Infrastructure Services revenue rose 4.6%. Smartphone data customers now represent 80% of total mobile customers, signaling a successful premiumization strategy.

Africa operations generated $1,836 million in constant currency revenues, up 21.1% year-on-year. The region added 5.5 million customers, bringing the total base to 189 million. Airtel Money transaction values grew 37.4% to $61 billion, highlighting the deepening penetration of financial services across sub-Saharan Africa.

Operational Highlights

The divergence between revenue growth (18.4%) and operating expense growth indicates improved operational leverage. While network operating expenses rose 13.3% to ₹10,810 crore, they remained well-contained relative to top-line expansion. The significant improvement in the net debt-to-EBITDA ratio from 1.70x to 1.17x reflects cash flow generation outpacing debt accumulation, enhancing financial flexibility for future capital expenditures and shareholder returns. The EPS-accretive nature of the Airtel Africa share swap implies that the consolidation of additional African assets will positively impact per-share earnings metrics.