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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Bharti Airtel
Bharti Airtel (BHARTIARTL) investor relations material
Bharti Airtel Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary6 Nov, 2026
Executive summary
Q2 consolidated revenue was Rs 60,878 crore, up 16.7% YoY and 4.0% QoQ; customer base reached 692.6 Mn across 15 countries.
EBITDA rose 17.8% YoY to Rs 35,240 crore, with a 57.9% margin; net income before exceptional items grew 32.7% to Rs 9,015 crore.
Consolidated EBITDAaL was ~INR 31,500 crore, up ~5.5%; EBITDAaL margin was 51.7%.
Performance reflected growth in India and Africa, premiumization, execution and cost efficiencies; opportunities include homes, B2B, financial services, data centers and cloud.
Financial highlights
Q2 EBIT rose 23.3% YoY to Rs 20,556 crore; PBT increased 26.7% to Rs 15,608 crore, and net income after exceptional items was Rs 8,888 crore, up 31%.
H1 revenue grew 18% YoY to Rs 1,19,417 crore; EBITDA rose 19% to Rs 68,838 crore and net income before exceptional items increased 34% to Rs 17,072 crore.
Consolidated operating free cash flow, defined as EBITDA less CapEx, exceeded INR 19,000 crore; quarterly consolidated CapEx was Rs 12,467 crore.
H1 operating cash flow was Rs 67,455 crore; investing and financing cash outflows were Rs 41,602 crore and Rs 31,063 crore, respectively, leaving Rs 19,152 crore in cash and equivalents.
Outlook and guidance
Management expects continued mobile ARPU growth from plan upgrades, postpaid, roaming and top-ups; the Q2 prepaid pricing intervention has played out, with further growth expected from other levers.
Core CapEx remains as guided; additional investment is expected in data centers and cloud, with no specific forward CapEx guidance for those growth areas.
Home strategy prioritizes accelerated fiber expansion; FWA will serve as an interim option at the fringes until fiber reaches areas with sufficient demand.
Management sees growth potential in mobile ARPU, home penetration and B2B; data-consumption-based pricing remains a longer-term industry opportunity.
Africa’s homegrown technology stack and group synergies are expected to support go-to-market capabilities and operating gains; early Financial Services traction was encouraging.
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Latest events from Bharti Airtel
- Rapid telecom expansion lifted revenue, but rollout costs and write-offs drove a Rs 1,805m net loss.BHARTIARTL
Q4 01/02 - Revenue doubled and EBITDA rose, but FY03 ended with a Rs 2,051m net loss.BHARTIARTLQ4 02/03
- Revenue grew 65% and FY04 delivered the first full year of net profit.BHARTIARTLQ4 03/04
- Revenue and EBITDA rose sharply, but AGR and other exceptional charges drove a record loss.BHARTIARTLQ4 19/20
- Record revenue, stronger margins and restored profit fueled FY22 growth.BHARTIARTLQ4 21/22
- Revenue rose and losses narrowed, with AGR obligations and customer exposure still in focus.BHARTIARTLQ4 20/21
- Revenue grew 4.9%; EBITDA margin rose to 35.4% as adjusted net income fell 21.5%.BHARTIARTLQ4 15/16
- Higher margins and an African turnaround partly offset India’s price-war pressures.BHARTIARTLQ4 16/17
- FY05 profit more than doubled as all-India coverage and customer growth accelerated.BHARTIARTLQ4 04/05
Next Bharti Airtel earnings date
Q3 26/275 Feb, 2027
Bharti Airtel
Next Bharti Airtel earnings date
Q3 26/275 Feb, 2027
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Frequently asked questions
Bharti Airtel Limited operates as a telecommunications company in Asia and Africa. Bharti Airtel Limited provides voice telephony services; mobile and fixed line broadband, and other data services; and value-added services, such as caller ring back tone, caller tune, music on demand, video on demand, interactive games, directory service, and real time short messaging. The company also offers postpaid mobile, prepaid mobile, fixed-line telephone services, mobile telephone services for international calls; Internet protocol television services; connections to international businesses through its global telecom network spanning the Asia-Pacific region; and application service provider offerings comprising critical business applications for core backend processes through its omni channel enterprise solutions.