Bharti Airtel Ltd
Bharti Airtel Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Mobile revenue grew sequentially by 2.4% in Q2 FY2025-26, with ARPU at Rs.251, showing steady improvement from portfolio mix and extra day benefits. Revenue for Q2 grew sequentially by about 2.4%, indicating consistent growth momentum.
From Bharti Airtel Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Mobile revenue grew sequentially by 2.4% in Q2 FY2025-26, with ARPU at Rs.251, showing steady improvement from portfolio mix and extra day benefits.
- Homes broadband business is exhibiting sustained momentum with strong net adds, including 60,000 new customers in Q2, its highest ever quarterly addition.
- Broadband segment is expected to grow driven by continued FTTH home pass deployment and FWA expansion, targeting 100 million homes in the medium term.
- Airtel Business revenues increased by 4.3% sequentially, signaling stable growth in the domestic market and improving global business outlook.
- Digital revenues (Cloud, Cybersecurity, Financial Services, IoT, CPaaS) showed strong growth of about 24% year-on-year, indicating robust digital portfolio scaling.
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Profitability & Margins
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Capital Expenditure Plans
- Capex is expected to moderate directionally over time with some short-term quarterly fluctuations due to executional and weather challenges (Soumen Ray).
- Fixed broadband "home pass" capex remains roughly $28-$32 per home passed; similar cost for Fixed Wireless Access (FWA) connected homes (Gopal Vittal, Soumen Ray).
- 5G standalone capex is minimal as networks are software-upgradable; investments mainly software-led (Gopal Vittal).
- Data center investment (Nxtra) is a focus area with plans to increase capital allocation, including buying more land; partnership with Google for building data centers in Vishakhapatnam and terrestrial, cable landing infrastructure (Gopal Vittal).
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Top-ranked in Telecom - Services
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Airtel Business witnessed growth in order book and improved funnel during the quarter.
- The global business segment is showing signs of improvement.
- Multiple connectivity deals were signed with marquee global customers in the quarter.
- Digital businesses secured deals in Cybersecurity and IoT verticals.
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Bharti Airtel Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹55.4K Cr, net profit ₹9.2K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Bharti Airtel's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q1 FY26 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
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Frequently Asked Questions
What were Bharti Airtel Ltd Q2 FY26 results?
Mobile revenue grew sequentially by 2.4% in Q2 FY2025-26, with ARPU at Rs.251, showing steady improvement from portfolio mix and extra day benefits. Revenue for Q2 grew sequentially by about 2.4%, indicating consistent growth momentum.
What is Bharti Airtel Ltd share price analysis?
Bharti Airtel Ltd currently shows a neutral. The stock trades at a P/E of 39.8 with a market cap of ₹1,243,079 Cr. Investors should review the full earnings analysis for detailed insights.
Is Bharti Airtel Ltd planning capital expenditure?
Capex is expected to moderate directionally over time with some short-term quarterly fluctuations due to executional and weather challenges (Soumen Ray).
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.