Bharti Airtel Q4 FY26: Profit dips, revenue up 16%

What Bharti Airtel reported for the March 2026 quarter

Bharti Airtel reported its consolidated results for the quarter ended March 31, 2026 (Q4 FY26), showing a divergence between profit and revenue trends. Consolidated net profit for the quarter was reported at ₹7,325 crore in one set of results, a year-on-year decline of about 34% from ₹11,021 crore in the year-ago quarter. Another reported data point in the provided material cites net profit at ₹9,247.4 crore for the March 2026 quarter, compared with ₹12,475.8 crore a year earlier. The company’s consolidated revenue for the quarter was consistent across the material at ₹55,383 crore, up around 16% year-on-year from ₹47,876 crore in Q4 FY25. Airtel also reported sequential revenue growth of 2.6% versus ₹53,982 crore in the December 2025 quarter.

Why profit fell despite higher revenue

The quarter’s profit movement was influenced by non-operating factors highlighted in the provided text. One explanation cited was the impact of one-time provisions related to statutory tax liabilities. Separately, the year-ago quarter’s profit was supported by a net tax gain of ₹2,892 crore, creating a high base effect for comparison. Airtel also disclosed that consolidated pre-tax profit rose 36% year-on-year to ₹13,205 crore from ₹9,724 crore, even as reported net profit declined. Exceptional items of ₹3,160.7 crore were also cited for Q4 FY26 in the material.

Revenue growth led by India, with Africa contributing

Airtel’s Q4 consolidated revenue rose to ₹55,383 crore, supported by sustained momentum in India and performance in Africa, as referenced in the company commentary. The India business reported quarterly revenue of ₹39,566 crore, up 7.7% year-on-year. India Mobile revenue within this was reported at ₹28,831 crore. The company also noted that Africa delivered 1.1% constant-currency growth quarter-on-quarter, while India revenue (including passive infrastructure services) grew 0.9% sequentially.

ARPU improvement and premiumisation trend

A key operating metric, Average Revenue Per User (ARPU), improved to ₹257 in Q4 FY26 from ₹245 in Q4 FY25, a rise of about 5% year-on-year. One update in the provided material also noted a marginal decline on a quarter-on-quarter basis to ₹257 from ₹259. Airtel linked ARPU resilience to users upgrading to higher-margin plans and a focus on “quality customers.” The company said it added 5.8 million smartphone customers in the quarter, supporting data usage and realisations.

Subscriber additions: postpaid, smartphone users, and scale

The company disclosed additions of 0.8 million postpaid customers during the quarter. Another data point in the material stated postpaid customers increased by 8 lakh, taking the postpaid base to 2.9 crore. Airtel also highlighted crossing the 650 million customer milestone (over 65 crore customers), with one segment note stating the India customer base stood at 482 million (48.2 crore). Another operational metric cited in the material placed the India mobile customer base at 37.32 crore at the end of Q4 FY26. These numbers were presented across different result summaries included in the prompt.

EBITDA, margins, and operating profitability

Consolidated EBITDA for Q4 FY26 was reported at ₹32,038 crore, up 0.6% year-on-year in one summary, with EBITDA margin at 57.8%, up 0.6 percentage points year-on-year. Another quarter summary cited EBITDA at ₹31,491 crore with margin at 58.86%, while a separate note cited EBITDA margin at 56.9% for the quarter. Across these versions, the broad message was that operating profitability remained stable to slightly improved, while reported net profit was shaped by taxes and exceptional items.

Capex and net debt: spending remains elevated

Airtel’s capital expenditure (capex) for Q4 FY26 was reported at ₹16,066 crore, up 12% year-on-year in one account. For the full financial year FY26, capex was reported at ₹47,522 crore, described as slightly lower year-on-year. Net debt was reported at ₹1.65 lakh crore (₹165,000 crore), with one note comparing it to ₹1.83 lakh crore in the preceding quarter. These figures indicate continued investment while working on deleveraging.

Full-year FY26 performance: revenue crosses ₹2 lakh crore

For FY26 (year ended March 31, 2026), Airtel reported consolidated revenue of ₹210,973 crore, up 22% from the prior year. Full-year net profit was reported at ₹26,995 crore, down 20% from ₹33,556 crore in FY25. Another data point in the material cited full-year profit at ₹26,695 crore, indicating minor variation across reported summaries included in the prompt. Executive Vice Chairman Gopal Vittal said FY26 was notable as the company crossed the 650 million customer mark, launched a “telco grade sovereign cloud,” received RBI approval through a subsidiary to commence the lending business, and accelerated expansion of its data centre footprint.

Dividend announced: ₹24 per share final payout

The Board recommended a final dividend of ₹24 per fully paid-up equity share (face value ₹5). It also recommended a dividend of ₹6 per partly paid-up equity share (face value ₹5, paid-up value ₹1.25) where call money remains unpaid, with the payout proportional to the paid-up amount. The dividend is subject to shareholder approval at the upcoming Annual General Meeting (AGM). The company said the record date would be communicated later, and if approved, the dividend would be credited within 30 days from the AGM date.

Market reaction: stock moves differed across updates

One market update in the provided material said Airtel stock closed 1.78% higher at ₹1,788.10 on the BSE, with market capitalisation cited at ₹10.89 lakh crore. Another snippet stated the share ended 1.7% lower at ₹1,992 on the BSE, indicating that the price references relate to different updates or time-stamps included in the prompt. The results were also described as being announced after market hours in one report.

Key numbers snapshot (Q4 FY26 and FY26)

Why these results matter for investors

The quarter shows Airtel continuing to grow revenue through a combination of ARPU improvement and subscriber additions, while reported profit remained sensitive to tax and exceptional items. Investors typically watch ARPU because it signals the ability to monetise traffic, fund network investments, and support cash flows in a capital-intensive telecom business. Airtel’s disclosures also point to broader ambitions beyond core connectivity, including cloud, data centres, and an RBI-approved move to begin lending through a subsidiary, which could diversify earnings over time.

Conclusion

Bharti Airtel closed FY26 with revenue growth and a higher ARPU in Q4, while net profit was impacted by one-time and tax-related factors. The Board’s recommended final dividend of ₹24 per fully paid-up share will be decided at the AGM, with the record date to be announced. The next set of disclosures around subscriber momentum, capex intensity, and any updates on new business lines will likely shape market focus in the coming quarters.