BHARTIARTL · Telecommunication
Bharti Airtel Ltd. reported revenue of ₹58,539 cr for April to June 2026, +18.3% on the year and +5.7% on the quarter. That is in line with how this quarter has grown in recent years (+15.7% on average). It is the highest quarterly revenue in the last 12 quarters on record. Over the last four quarters revenue comes to ₹2.20 lakh cr, +19.6% on the four before.
Operating profit (EBITDA) was ₹33,303 cr, a margin of 56.9%, +61 bps on the year and +3 bps on the quarter. Over the last 8 quarters the margin has ranged from 52.7% to 57.0%, averaging 55.9%. Operating costs grew +16.7%, broadly with revenue, so operating profit kept pace with sales.
Net profit was ₹10,012 cr, +34.9% on the year and +8.3% on the quarter, with earnings per share of ₹13.09. Profit before other income, one-offs and tax grew 32.3%, so the profit growth came from the business itself. The tax rate was 27% against an average of 22% over the previous 7 quarters, which weighed on profit this quarter. Profit over the last four quarters totals ₹36,413 cr, −9.4% on the four before.
Telecom is capital-heavy: depreciation and interest take a large share of operating profit, so the operating line matters more than net profit in any one quarter. The quarterly statements do not carry revenue per user, subscribers and capital spending; those come with the filing read.
On earnings per share of ₹48.65 over the last four quarters, the stock at ₹1,899.80 trades at 39.1 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹37,044 cr | ₹37,900 cr | ₹37,599 cr | ₹38,506 cr | ₹41,473 cr | ₹45,129 cr | ₹47,876 cr | ₹49,463 cr | ₹52,145 cr | ₹53,982 cr | ₹55,383 cr | ₹58,539 cr |
| YoY | — | — | — | +3% | +12% | +19% | +27% | +28% | +26% | +20% | +16% | +18% |
| EBITDA margin | 52.7% | 52.3% | 51.5% | 51.2% | 52.7% | 54.5% | 56.4% | 56.3% | 56.7% | 57.0% | 56.9% | 56.9% |
| Other income, % of PBT | −17% | 25% | −47% | 33% | 8% | 57% | 4% | 6% | 7% | 5% | −22% | 5% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 47% | 30% | 26% | 22% | 30% | 4% | −30% | 29% | 30% | 31% | 8% | 27% |
| Net profit | ₹2,093 cr | ₹2,876 cr | ₹2,068 cr | ₹4,718 cr | ₹4,153 cr | ₹16,135 cr | ₹12,476 cr | ₹7,422 cr | ₹8,651 cr | ₹8,503 cr | ₹9,247 cr | ₹10,012 cr |
| YoY | — | — | — | +210% | +98% | +461% | +503% | +57% | +108% | −47% | −26% | +35% |
| Core profit YoY | — | — | — | −7% | +18% | +133% | +125% | +147% | +112% | +63% | +33% | +32% |
| EPS | ₹2.39 | ₹4.34 | ₹3.66 | ₹7.31 | ₹6.31 | ₹25.95 | ₹19.33 | ₹10.43 | ₹11.91 | ₹11.63 | ₹12.02 | ₹13.09 |
| Flags | · | · | · | 2 | 1 | 3 | 2 | ✓ | ✓ | ✓ | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Bharti Airtel Ltd. reported revenue of ₹58,539 cr (+18.3% on the year) and net profit of ₹10,012 cr (+34.9% on the year) for April to June 2026.
Profit before other income, exceptional items and tax moved +32.3% on the year, against +34.9% for reported profit.
None of the 7 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.