BHARTIARTL · Telecommunication
Bharti Airtel Ltd. reported revenue of ₹37,044 cr for July to September 2023, — on the year and −1.1% on the quarter.
Operating profit (EBITDA) was ₹19,514 cr, a margin of 52.7%, — on the year and +33 bps on the quarter.
Net profit was ₹2,093 cr, — on the year and +37.7% on the quarter, with earnings per share of ₹2.39.
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.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, 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: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, 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).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| 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 ₹37,044 cr (— on the year) and net profit of ₹2,093 cr (— on the year) for July to September 2023.
None of the 2 checks that could run raised a question.
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