This article first appeared on GuruFocus.
Release Date: November 04, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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Bharti Airtel Ltd (BOM:532454) reported consistent financial performance with consolidated revenues of approximately 52,000 crores and an annualized run rate exceeding 200,000 crores.
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The company has made significant progress in its ESG agenda, solarizing over 2,900 sites and optimizing energy usage through AI-enabled solutions.
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Bharti Airtel Ltd (BOM:532454) continues to expand its network infrastructure, adding 2,480 network sites and over 10,000 kilometers of fiber during the quarter.
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The mobile segment showed strong performance with the addition of 1.4 million revenue-earning customers and 5.1 million smartphone data users.
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The company is actively investing in future growth opportunities, including a partnership with Google to build data centers and expand its digital portfolio across high-growth verticals.
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The AGR judgment of 2019 remains a challenge, with Bharti Airtel Ltd (BOM:532454) planning to address calculation errors with the government.
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The digital TV business experienced a loss of 340,000 customers during the quarter, attributed to pronounced seasonality.
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There is a concern about the elevated CapEx in the home broadband segment, which may impact short-term financials.
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The company faces challenges in the competitive landscape, with a need to improve customer acquisition quality and reduce churn.
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Bharti Airtel Ltd (BOM:532454) acknowledges the need for further tariff repair and pricing architecture changes to enhance ARPU growth.
Q: Can you provide details on the partnership with Google in Visakhapatnam, specifically regarding the scale of investments and the role of Airtel? A: We are investing about 1,500 crores annually in Nextra and will allocate more capital to buy land and build data centers in Visakhapatnam for Google. This includes providing terrestrial networks and building a cable landing station. The data center buildout will be through Nextra, while connectivity and cable landing stations will be managed by Airtel Business. We are also in talks with 70 customers for our Exelfi cloud, having signed six deals already.
Q: How does the Supreme Court’s AGR judgment affect Airtel, and what steps will you take next? A: We are pleased with the court’s decision to allow reconciliation of AGR dues. We will first reach out to the government to discuss the next steps.
