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• Consolidated Revenue: INR173,000 crore for FY25.

• EBITDA Growth: 21.2% with a margin improvement of 2.3%.

• India Revenue Growth: 15.3% excluding Indus towers.

• EBITDAaL Margin: 48%, expanded by 2%.

• India CapEx: INR30,270 crore for the year.

• Operating Free Cash Flow: Just under INR31,400 crore.

• Net Debt to EBITDAaL (India): 1.5.

• Q4 Consolidated Revenue: INR47,876 crore.

• Q4 India Revenue: INR33,100 crore excluding Indus.

• Q4 EBITDAaL Margin: 50.7%, improved by 1.4%.

• ARPU: INR245, flat sequentially; INR248 on an equal day basis.

• 5G Customers: 135 million at the end of FY25.

• Broadband Customer Additions: 8.1 lakh in the quarter.

• Digital TV Customer Additions: 76,000 during the quarter.

• Airtel Business Revenue: INR5,316 crore for the quarter.

• Payments Bank Monthly Transacting Users: 96 million, growing 10% sequentially.

• Payments Bank Annualized Revenue Run Rate: INR2,900 crore, 35% year-on-year growth.

• Africa Revenue Growth: 6.3% sequentially with a margin of 35.9%.

• Warning! GuruFocus has detected 4 Warning Signs with SOMMF.

Release Date: May 14, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Bharti Airtel Ltd (BOM:532454) reported a strong financial performance for FY25 with consolidated revenues of INR173,000 crore, despite challenges such as Africa currency devaluation.

• The company achieved an EBITDA growth of 21.2% and improved EBITDAaL margins by 2.3%, demonstrating operational efficiency.

• Bharti Airtel Ltd (BOM:532454) has made significant progress in its ESG initiatives, including collaboration with Nokia on Green 5G and solarizing over 30,708 sites.

• The company has successfully launched IPTV, enhancing customer experience and reducing CapEx on set-top boxes.

• Bharti Airtel Ltd (BOM:532454) continues to expand its 5G network, closing the quarter with 135 million 5G customers and capturing a fair share of the 5G device market.

Negative Points

• The company's consolidated revenues were impacted by a decline in the B2B segment, aligning with their strategy to focus on quality revenues.

• ARPU remained flat sequentially at INR245, affected by two fewer days in the quarter, indicating challenges in revenue per user growth.

• The DTH industry faces headwinds due to regulatory challenges and competition from free services like Doordarshan's Free Dish.

• Despite strong growth in the digital business, the company is not satisfied with the current growth rate of 25% to 30% and aims to accelerate it.

• The company acknowledges the need for further tariff repair in the Indian telecom market to sustain financial health and support future investments.