Bharti Airtel Q4 Review - Strong Subscriber Growth Across Mobile, Home Businesses: Motilal Oswal
A vendor arranges Bharti Airtel Ltd. SIM card packets at a stall in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Bharti Airtel Q4 Review - Strong Subscriber Growth Across Mobile, Home Businesses: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Bharti Airtel Ltd.'s consolidated Ebitda grew 2% QoQ (in line) in Q4 FY21 on the back of India mobile Ebitda growth of 4% (in line), even without a tariff hike, led by steady subscriber gains.

The miss in estimate was on lower than estimated flattish average revenue per user and higher opex curbing incremental Ebitda margin at 40% versus our expectation of 60-65%.

Bharti’s consistent and commendable rise in 4G subscribers/average revenue per user/India mobile Ebitda of 32%/7%/32% over the last four quarters, translating to better free cash flow, should continue.

Click on the attachment to read the full report:

Motilal Oswal Bharti Airtel Q4FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.