Bharti Airtel strengthens market position across Mobile, Homes, and Digital TV in Q4 FY25

Bharti Airtel Limited (Bharti Airtel) announced its audited consolidated results for the fourth quarter ended 31 March 2025.

Consolidated revenues for Q4 FY25 stood at Rs 47,876 crore, reflecting a year-on-year (YoY) growth of 27.3% and a quarter-on-quarter (QoQ) increase of 6.1%. This performance was driven by continued momentum in India and a recovery in reported currency revenues in Africa. Consolidated EBITDA for the quarter was Rs 27,404 crore, with an EBITDA margin of 57.2%.

India revenues for the quarter reached Rs 36,735 crore, up 28.8% YoY and 6.0% QoQ. Mobile services revenue grew by 20.6% YoY, supported by pricing improvements and a continued focus on acquiring high-quality, premium customers. The average revenue per user (ARPU) rose to Rs 245, compared with Rs 209 in Q4 FY24.

Bharti Airtel further consolidated its leadership in the postpaid segment, adding 0.6 million net subscribers during the quarter, taking the total postpaid customer base to 25.9 million. The company also recorded a 9.5% YoY increase in smartphone users, with 24 million net additions.

To support network expansion and improve service delivery, approximately 3,300 new towers and 13,600 mobile broadband sites were installed during the quarter. On an annual basis, the company added 19,900 towers and laid 44,400 km of fibre, underscoring its commitment to enhancing the customer experience.

A strategic partnership with Apple was announced during the quarter, giving Airtel customers access to Apple TV+ and Apple Music. This collaboration provides subscribers with a range of premium content, including drama and comedy series, films, documentaries, and children's entertainment.

Homes and IPTV Business

The Homes business saw a YoY revenue increase of 21.3%, driven by robust customer acquisition. The Company accelerated its fixed wireless access (FWA) rollout, adding 812,000 customers in the quarter, bringing the total base to 10 million. Over 2 million additional home passes were created during the period.

Bharti Airtel also launched its IPTV service across 2,000 cities, offering an enhanced large-screen viewing experience. The service is currently available across India, except in Delhi, Rajasthan, Assam, and the North Eastern states, where it is expected to be launched shortly.

Airtel Business and Digital TV

Revenue from Airtel Business declined by 2.7% YoY, in line with the Company’s strategy to phase out low-margin global wholesale voice and messaging services. The underlying performance remains stable.

During the quarter, Bharti Airtel landed two new submarine cables—SEA-ME-WE-6 in Chennai and the 2Africa Pearls cable, further strengthening its international network and supporting India's digital growth initiatives.

Digital TV revenue for the quarter was Rs 764 crore, with a total customer base of 15.9 million. Airtel continued to grow market share, supported by a simplified pricing model, targeted regional strategies, and differentiated converged offerings.

Financial Highlights

Consolidated EBITDA rose 39.9% YoY to Rs 27,404 crore, with an EBITDA margin of 57.2%; India EBITDA margin was 60.0%. Consolidated EBIT increased 58.7% YoY to Rs 14,950 crore. Net income before exceptional items stood at Rs 5,223 crore.

The Net Debt to EBITDA ratio (annualised, on a reported basis) improved to 1.86 times, compared to 1.98 times as at 31 December 2024. Excluding lease obligations, the Net Debt to EBITDAaL ratio stood at 1.42 times.

In March 2025, Bharti Airtel prepaid Rs 5,985 crore towards deferred spectrum liabilities to the Department of Telecommunications for spectrum acquired in 2024. Over the past two years, the Company has prepaid more than Rs42,000 crore in spectrum-related dues.

The Board has recommended a final dividend for FY25 of Rs16 per fully paid-up equity share (face value Rs 5 each) and Rs 4 per partly paid-up equity share (face value Rs 5 each, with Rs 1.25 paid-up).

Commenting on the results, Gopal Vittal, Vice- Chairman and MD, said,“We ended FY25 on a strong note with consolidated revenue of Rs 47,876 crore, representing a sequential growth of 6.1%. India revenues grew by 6%, and Africa maintained its underlying performance despite currency fluctuations. Our India Mobile business grew by 1.3% sequentially, despite having two fewer days in the quarter, driven primarily by premiumisation. We added 6.6 million smartphone users and maintained an industry-leading ARPU of Rs 245."

He added, "Our Homes business continued to gain momentum, resulting in a 5.8% sequential increase in revenues. IPTV services are now live in over 2,000 cities, enhancing the large-screen experience for our customers. The moderation in Airtel Business revenue is consistent with our strategic decision to exit low-margin wholesale services, while the core business remains stable.

Our balance sheet remains strong, supported by robust cash generation, disciplined capital allocation, and ongoing debt reduction. In Q4, we prepaid Rs 5,985 crore in high-cost spectrum dues, bringing the total prepayment over the last two years to more than Rs 42,000 crore.”