📝 Introduction
Bharti Airtel reported its Q4 FY25 earnings with a 25% quarter-on-quarter drop in net profit due to a high base effect from Q3’s one-off gain. However, the telco beat street estimates on revenue and operating performance, driven by steady ARPU and strong data consumption. The company declared a ₹16 final dividend for FY25, reflecting confidence in cash flows despite margin pressure.
💡 Financial Highlights
- 📊 Revenue: ₹47,876 Cr (↑ 2.1% QoQ, ↑ 32.9% YoY)
- 💼 EBITDA: ₹27,404 Cr (↓ 5.7% QoQ from ₹29,056.7 Cr)
- 🧾 Net Profit: ₹11,022 Cr (↓ 25.4% QoQ from ₹14,781.2 Cr due to one-off gain in Q3)
- 📈 ARPU: ₹245 (Flat QoQ, ↑ 17.2% YoY)
- 🌐 Data Usage/User: 25.1 GB/month (↑ 21% YoY)
- 🏦 Final Dividend: ₹16 per equity share
💰 Dividend Announcement
The Board recommended a final dividend of ₹16 per equity share for FY25. This follows robust operating cash flows and signals a shareholder-friendly capital return policy.
📊 Key Financial Metrics
| Metric | Q4 FY25 | Q3 FY25 | Q4 FY24 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | ₹47,876 Cr | ₹45,129 Cr | ₹37,599 Cr | 2.10% | 27.30% |
| Expenses | ₹20,867 Cr | ₹20,533 Cr | ₹18,234 Cr | 1.60% | 14.40% |
| EBITDA | ₹27,404 Cr | ₹29,056.7 Cr | ₹19,365 Cr | -5.70% | 41.50% |
| Operating Profit | ₹27,009 Cr | ₹24,597 Cr | ₹19,365 Cr | 9.80% | 39.50% |
| Profit Before Tax | ₹9,584 Cr | ₹16,892 Cr | ₹2,778 Cr | -43.30% | 245% |
| Net Profit | ₹11,022 Cr* | ₹14,781.2 Cr | ₹2,068 Cr | -25.40% | 432.90% |
📐 Key Financial Ratios
| Ratio | Q4 FY25 | Q3 FY25 | Q4 FY24 | Trend |
|---|---|---|---|---|
| Operating Margin | 56% | 54% | 52% | Improving steadily |
| Net Profit Margin | 23% | 32.80% | 5.50% | Lower QoQ (high base) |
| EPS (in ₹) | 19.33 | 25.95 | 3.66 | Up YoY, Down QoQ |
🔄 Peer Comparison
| Company | CMP (₹) | P/E | P/B | Market Cap (Cr) | 52W High (₹) | 52W Low (₹) |
|---|---|---|---|---|---|---|
| Bharti Airtel | 1816.6 | 39.3 | 9.1 | 10,89,246.54 | 1917 | 1219.05 |
| Bharti Hexacom | 1684.5 | 62.86 | 14.19 | 84,225.00 | 1794.4 | 909.35 |
| Vodafone Idea | 7.04 | - | - | 76,273.49 | 19.18 | 6.46 |
| Tata Comm | 1644.25 | 41.18 | 15.55 | 46,861.13 | 2175 | 1291 |
| Railtel Corpn. | 395.1 | 40.24 | 6.35 | 12,680.27 | 618 | 265.3 |
| Tata Tele. Mah. | 60.91 | - | - | 11,907.51 | 111.48 | 50.01 |
| Nazara Techno. | 1259.35 | 154.37 | 5.66 | 11,033.92 | 1289.7 | 590.85 |
🧭 Strategic Developments
- Management emphasized sustained ARPU growth and rising data usage as key levers.
- 5G rollout expanded to more cities; capex allocation remains aggressive.
- Focus continues on digital and enterprise segment growth.
- No new updates on subscriber additions or churn rate disclosed this quarter.
✅ Positives This Quarter
- Strong YoY growth in ARPU and data usage
- Revenue beat vs. street estimates
- ₹16 final dividend declared
- Robust operating margins at 56%
❌ Negatives / Challenges This Quarter
- Net profit decline QoQ due to one-off base effect in Q3
- EBITDA margin contraction from 62% to 57.2%
- No material update on subscriber base or rural expansion
📉 Market Reaction & Street View
- Stock closed 2.74% lower post-result at ₹1,820.95 on BSE
- Analysts at Jefferies and UBS cited solid fundamentals but flagged margin concerns
- Morgan Stanley maintained Overweight, target ₹2,100
- Bloomberg Consensus suggests “BUY” with upside potential in FY26 driven by tariff hikes
🔮 Final Outlook
Bharti Airtel’s Q4 FY25 results reflect operational strength despite short-term margin pressure. The steady ARPU and dividend announcement reinforce the company’s long-term growth narrative in digital, 5G, and enterprise verticals. With robust financials and resilient KPIs, Bharti Airtel remains a top pick in the telecom sector.
🔗 External Links
For detailed financials and official updates, visit: Bharti Airtel Official Website
⚠️ Disclaimer
This summary is based on publicly available information from official filings, press releases, and financial news sources. It is provided for informational purposes only and does not constitute financial advice, investment recommendation, or an offer to buy or sell any securities. Readers are advised to conduct their own research or consult with a qualified financial advisor before making any investment decisions.