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Telecom giant Bharti Airtel is set to announce its December quarter (Q3) results on February 6, 2025. Analysts predict that the company will report exceptional financials, with strong growth in average revenue per user (ARPU), an expanding subscriber base, and significant margin improvements.
Ahead of the results, Bharti Airtel’s stock dropped by 1.1%, reaching an intraday low of ₹1,641.5 per share. In comparison, the BSE Sensex was down by 0.13% at 10:05 AM.
Bharti Airtel Q3 Results Timing
The company’s official Q3 results are expected to be released later today, with a Board of Directors meeting scheduled for Thursday, February 6, 2025. The meeting will focus on reviewing the audited financial results for the third quarter and the nine months ending December 31, 2024. Bharti Airtel will also conduct an earnings webinar on Friday, February 7, 2025, from 2:30 PM to 3:50 PM IST to discuss the results.
Q3 Performance Expectations for Bharti Airtel
Nuvama Institutional Equities anticipates a 7.6% quarter-on-quarter (Q-o-Q) increase in Bharti Airtel’s consolidated revenue, estimating ₹44,659.9 crore for Q3. This includes an 8% growth in India operations and a 3.9% rise in the Africa business (in rupee terms). On a year-on-year (Y-o-Y) basis, Q3 revenue is expected to rise by around 18%.
In Q2FY25, Bharti Airtel’s consolidated revenue stood at ₹41,473.3 crore, and in Q3FY24, it was ₹37,899.5 crore. The India mobile services segment is expected to grow 4.1% Q-o-Q, fueled by the consolidation of 42 days of Indus Towers and the residual impact of the tariff hike. The company’s consolidated EBITDA margin is forecasted to expand by 230 basis points (bps) Q-o-Q to 55.3%, up from 52.7% in Q2FY25 and 52.3% in Q3FY24.
On the profit front, Nuvama predicts Bharti Airtel’s Q3 net profit to reach ₹5,224.3 crore, marking a 45.3% Q-o-Q rise and a 113.9% Y-o-Y increase from ₹2,442.2 crore in Q3FY24.
Key factors to watch include the pace of 5G adoption, capital expenditure plans, Indus Towers consolidation, and potential future tariff hikes.
Centrum Broking expects Bharti Airtel’s Q3 revenue to rise by 5.4% Q-o-Q and 15.3% Y-o-Y to ₹43,714.6 crore. This growth is attributed to an increase of nearly 3 million subscribers in the India wireless segment, bringing the total to 355 million subscribers. ARPU is projected to grow by 6.5% Q-o-Q to ₹248, driven by the tariff hike in July 2024 and the continued migration from 2G to 4G.
Centrum further forecasts EBITDA of ₹23,295 crore for Q3, reflecting a 6.6% Q-o-Q increase and a 17.6% Y-o-Y rise. The EBITDA margin is expected to improve by 61 bps Q-o-Q to 53.3%.
Overall, Centrum predicts consolidated net profit to reach ₹5,274.6 crore for Q3, representing a 46.8% Q-o-Q increase and a 116% Y-o-Y jump.
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