Bharti Airtel Earnings Summary — Q1 FY2027
Bharti Airtel Posts Solid Q1 Growth with Net Profit Surpassing ₹81 Billion
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 10 consecutive quarters.
- Revenue of ₹58,539 Cr is 18.4% higher year-on-year.
- Revenue has compounded at 21.7% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹8,167 Cr is 37.3% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 84.0% annualised across the period.
- Operating margin stands at 56.9% in Q1 FY2027.
- Operating margin expanded by 61 bps year-on-year.
- Over the last two years operating margin has expanded by 571 bps.
- PBT margin is 23.5%.
- Expense growth of 16.7% remained below revenue growth of 18.4%.
- Operating profit of ₹33,303 Cr is 19.6% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 81/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 58,539 | 55,383 | 53,982 | 52,145 | 49,463 | 47,876 | 45,129 | 41,473 | 38,506 | 37,599 |
| Expenses | Improving | 25,236 | 23,892 | 23,199 | 22,584 | 21,624 | 20,867 | 20,533 | 19,627 | 18,799 | 18,234 |
| Operating Profit | Improving | 33,303 | 31,492 | 30,783 | 29,561 | 27,839 | 27,009 | 24,597 | 21,846 | 19,708 | 19,365 |
| Operating Margin | Stable | 56.9% | 56.9% | 57.0% | 56.7% | 56.3% | 56.4% | 54.5% | 52.7% | 51.2% | 51.5% |
| Other Income | Volatile | 661 | -2,198 | 562 | 809 | 592 | 403 | 9,675 | 475 | 2,010 | -1,308 |
| Interest | Stable | 5,956 | 5,606 | 5,623 | 4,866 | 5,461 | 5,502 | 5,676 | 5,424 | 5,152 | 5,203 |
| Depreciation | Improving | 14,235 | 13,644 | 13,420 | 13,182 | 12,465 | 12,326 | 11,704 | 11,000 | 10,540 | 10,075 |
| Profit Before Tax | Volatile | 13,773 | 10,045 | 12,301 | 12,322 | 10,504 | 9,584 | 16,892 | 5,897 | 6,025 | 2,778 |
| Tax | Volatile | 3,761 | 797 | 3,799 | 3,672 | 3,083 | -2,892 | 757 | 1,744 | 1,308 | 710 |
| Net Profit | Volatile | 8,167 | 7,325 | 6,631 | 6,792 | 5,948 | 11,022 | 14,781 | 3,593 | 4,160 | 2,072 |
| Net Margin | Volatile | 13.9% | 13.2% | 12.3% | 13.0% | 12.0% | 23.0% | 32.8% | 8.7% | 10.8% | 5.5% |
Key Takeaways
- Consolidated revenue for Q1 FY2027 grew 18.35% YoY to ₹585,391 million, driven by strong growth in India and Africa mobile services.
- Mobile Services India remains the largest segment contributor with revenue of ₹299,289 million, up from ₹273,966 million in the same quarter last year.
- The Group increased its effective shareholding in Airtel Africa from 62.62% to 79.11% through a major share swap with ICIL and a buyback program.
- Consolidated Net Profit (attributable to owners) rose to ₹81,674 million, marking a robust recovery and expansion of operational leverage.
- Airtel Africa segment results showed significant improvement, with profit before finance costs rising from ₹38,261 million to ₹59,695 million YoY.
- The company recognized an exceptional charge of ₹3,534 million related to a commercial dispute settlement in one of its African subsidiaries.
Management Guidance
Management remains focused on premiumization and ARPU growth in India while consolidating market share. The Airtel Africa share buyback program (tranche of $110 million) is expected to continue until November 2026.
Sentiment Shift
Improving
The substantial increase in net profit and effective ownership in the profitable Africa business, coupled with steady ARPU-driven revenue growth, signals strengthening financial health.
Outlook
The outlook remains strong as the company benefits from 5G rollouts and fiber expansion. The integration of increased stakes in Airtel Africa is expected to bolster long-term consolidated earnings.
From the Annual Report (Key Quotes)
“The Group's effective shareholding in Airtel Africa increased from 62.62% to 78.93% following the issuance of equity shares to ICIL.”
“Airtel Africa announced the commencement of share buy-back programme with initial tranche of $110 million.”
“Profit for the quarter attributable to Owners of the Parent stood at ₹81,674 million.”
Official Quarterly Documents
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This summary is AI-generated from Bharti Airtel's latest quarterly filing and earnings call. For informational purposes only — not investment advice.