Bharti Airtel Limited (NSE: BHARTIARTL) announced its audited consolidated results for the quarter ended December 31, 2025, showcasing strong performance across India and Africa. Consolidated revenues reached Rs 53,982 crore, up 19.6% year-over-year (YoY) and 3.5% quarter-over-quarter (QoQ).
Strong Revenue and EBITDA Expansion
India revenues stood at Rs 39,226 crore, reflecting 13.2% YoY and 1.4% QoQ growth. Mobile revenues in India grew 9.1% YoY, driven by improved realizations and an expanding customer base. Consolidated EBITDA rose 25.2% YoY to Rs 31,144 crore, achieving a margin of 57.7%, while India’s EBITDA margin hit 60.4%.
Average Revenue Per User (ARPU) in India climbed to Rs 259 from Rs 245 in Q3 FY25, underscoring premiumization efforts. Consolidated EBIT increased 34.5% YoY to Rs 17,654 crore, with net income (before exceptional items) at Rs 6,920 crore.
Customer Growth and Infrastructure Push
Airtel bolstered its postpaid leadership, adding 0.62 million net customers to reach 28.1 million. Smartphone data customers grew by 20.8 million over the past year, a 7.7% YoY rise. The company deployed 1,147 towers and 16,338 mobile broadband base stations in the quarter, adding 5,457 towers and ~30,000 kilometers of fiber over nine months.
The Homes segment delivered 32.6% YoY revenue growth, adding 1.2 million customers to hit 13.1 million. Airtel Business revenues rose 1.5% QoQ, supported by digital services momentum.
Strategic Partnerships and Digital TV Progress
Key deals included a partnership with Google for India’s first AI hub in Visakhapatnam, enhancing AI adoption and digital infrastructure. Airtel Business secured a multi-year contract with Indian Railway Security Operations Centre (IRSOC) for 24×7 cybersecurity, benefiting over 1 billion users. A tie-up with IBM aims to scale Airtel Cloud for AI workloads in regulated sectors.
Digital TV revenues reached Rs 755 crore, with a 15.4 million customer base. IPTV adoption accelerated via convergence, highlighted by the exclusive launch of Airtel Cartoon Network Classics with Warner Bros.
Balance Sheet Strength and Outlook
Net debt to EBITDA (annualized) improved to 1.47x from 1.98x as of December 31, 2024; excluding leases, it stood at 1.02x. Gopal Vittal, Executive Vice Chairman, noted sequential revenue growth of 3.5%, with Africa up 5.8% in constant currency due to a homegrown digital stack. India mobile grew 1.9% QoQ, adding 4.4 million customers, while Homes hit a Rs 2,000 crore quarterly run-rate. Vittal emphasized a resilient portfolio, quality customer focus, and deleveraging for future investments.