Bharti Airtel (BHARTIARTL) Q4 25/26 earnings summary

Executive summary

• Consolidated revenues for Q4 FY26 reached Rs 553,832 Mn, up 15.7% year-over-year, with strong growth in both India and Africa operations.

• EBITDA for the quarter was Rs 320,382 Mn, up 16.9% YoY, with a margin of 57.8%. Net income before exceptional items was Rs 72,447 Mn, up 39% YoY.

• India revenues grew 7.7% YoY to Rs 395,656 Mn, led by mobile, homes, and business segments. Africa revenues rose 41% YoY to Rs 160,335 Mn.

• Customer base expanded to ~666 million across 15 countries, with India at 482 million and Africa at 184 million.

Financial highlights

• Full-year consolidated revenues were Rs 2,109,728 Mn, up 16% YoY; EBITDA was Rs 1,212,676 Mn, up 15.5% YoY; EBIT was Rs 680,996 Mn, up 20% YoY.

• Net income (before exceptional items) for the year was Rs 269,042 Mn, up 51% YoY; after exceptional items, net income was Rs 266,952 Mn.

• Capex for Q4 was Rs 160,656 Mn; full-year capex reached Rs 475,218 Mn.

• Net debt (excluding lease obligations) reduced to Rs 910,485 Mn from Rs 1,385,086 Mn YoY; Net Debt/EBITDA (annualized) at 0.79x.

Outlook and guidance

• Continued focus on digital infrastructure, 5G densification, fiber deployment, and data center expansion.

• Board recommended a final dividend of Rs 24 per fully paid share and Rs 6 per partly paid share for FY26, subject to shareholder approval.

• Management highlights ongoing investments in AI, digital services, and clean energy initiatives.