Telecom operator Bharti Airtel Ltd shares rose in trade on Wednesday, August 6, after the telecommunications giant reported its earnings show for the three months ended June 30, 2025.
Bharti Airtel reported 43 percent jump in consolidated net profit at Rs 5,948 crore for the quarter ended June 30, 2025, marking its fifth straight quarter of profit growth. Airtel’s revenue from operations rose 28 percent year-on-year to Rs 49,463 crore in the June quarter, up from Rs 38,506 crore a year earlier.
At 9.20 a.m., shares of Airtel were quoting Rs 1,959.1, higher by 1.4 percent on the NSE.
Airtel’s smartphone user base grew by 21.3 million year-on-year and 3.9 million sequentially, now making up 77 percent of its mobile users. It added 0.7 million postpaid users, taking the total to 26.6 million. Mobile data usage rose 21.6% YoY, with per-user monthly consumption at 26.9 GB.
To boost network performance, Airtel added around 1,800 towers and 7,500 broadband sites this quarter, and installed about 15,400 towers and 43,700 km of fiber over the year.
The Homes business saw a 25.7 percent YoY revenue jump, with a record 939,000 new Wi-Fi users, taking the home broadband base to 11 million. Airtel also added 1.6 million home-pass fiber connections during the quarter.
International brokerage Morgan Stanley maintained its 'equal-weight' call on the telecom player, with a price target of Rs 1,890 per share. The brokerage noted that the India business of the firm delivered a beat on the EBITDA front, while Airtel's India mobile business ARPU (average revenue per user) was trending in the right direction at Rs 250. Further, the capital expenditure of Rs 5,450 crore was lower than estimates, reducing consolidated net debt.
Hong Kong-based CLSA kept its 'outperform' rating intact, issuing a target price of Rs 2,035 per share. CLSA said that Airtel was leading on the ARPU front, while recording strong subscriber gains; the net additions for Homes were at an all-time high.
Macquarie, too, maintained its 'outperform' tag, with a price target of Rs 2,050 per share amid strong ARPU gain, capex control, and record free cash flow. The brokerage noted that Airtel posted a strong print in India mobile with ARPU and FCF tracking above forecasts.
"Record FCF generation in particular will likely drive positive sentiment as the Street was mixed on capex trajectory and FCF delivery," added Macquarie.
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