Bharti Airtel Q4 Review - Tepid Growth; Strong Client Addition: Axis Securities
Workers install Bharti Airtel Ltd. signage while standing on scaffolding at a business park in Gurgaon, India. (Photographer: Kuni Takahashi/Bloomberg)

Bharti Airtel Q4 Review - Tepid Growth; Strong Client Addition: Axis Securities

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.

Axis Securities Report

Bharti Airtel Ltd. reported muted growth in Q4 FY21 and reported better numbers than our expectations.

Revenues at Rs 25,747 crore declined 2.9% QoQ and grew 11.9% YoY.

Ebitda grew by 2.3% QoQ at Rs 12,331 crore and margin expanded by 380 basis points QoQ to 47.5%, aided by strong execution and better customer mix.

India business reported a de-growth of 4.7% QoQ at Rs 141 crores, aided by strong 4G momentum.

Average revenue per user declined during the quarter by Rs 21 and stood at Rs 145 versus Rs 166 due to the interconnection usage charges impact of Rs 14/subscriber.

Click on the attachment to read the full report:

Axis Securities Bharti Airtel Q4FY21 Result Update.pdf


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.

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