Bharti Airtel Q4FY25: Profit up 432%, ARPU ₹245

Market backdrop as results season stays volatile

Indian equities closed sharply lower in the session referenced, with the Nifty ending at 23,815.85 (down 360.31) and the Sensex at 76,015.28 (down 1,312.91). Against that backdrop, Bharti Airtel remained in focus as multiple reports and brokerage notes tracked its quarterly numbers, stock moves, and expectations for the next earnings event.

Q4FY25 headline numbers reported across updates

Bharti Airtel reported a year-on-year surge of 432% in net profit for the quarter ended March (Q4FY25), with profit at ₹11,022 crore. The same stream of updates attributed the jump to a tax gain, data-led growth in India, and consolidation of Indus Towers.

Alongside the reported profit, the company’s consolidated revenue for Q4FY25 was cited at ₹47,876 crore, up about 27% year-on-year. The reported improvement in revenue was linked to strong growth in India and a recovery in the Africa business.

Adjusted profit, ARPU and dividend details

After excluding exceptional items, adjusted net profit for Q4FY25 was reported at ₹5,223 crore, up 77% year-on-year. The distinction mattered because the headline profit was influenced by a tax gain, while the adjusted figure was presented as a cleaner indicator of operating performance.

Average revenue per user (ARPU) was reported at ₹245 for the quarter in the same set of updates. Bharti Airtel’s board also declared a final dividend of ₹16 per share.

What the company’s growth drivers looked like

The revenue rise was described as being driven by “strong India growth and Africa recovery.” Another brokerage summary also referred to strong 4G user additions and higher consumption of data and voice services as factors supporting earnings.

Separately, a forward-looking snippet said the telecom giant was expected to show “modest revenue growth in Q4” amid lower subscriber additions and flat ARPU. Since these comments appear in the same compiled text but refer to different quarters and contexts, investors typically reconcile them by focusing on the specific period being discussed in each note.

Stock reaction and price points mentioned

One update said Bharti Airtel shares jumped about 2% after the adjusted profit print, while another said the shares gained 2% despite missing estimates in a different quarter. For Q4FY25 specifically, the stock was reported to have ended at ₹1,840 on the NSE, up 1.04% on the day, after touching an intraday high of 4%.

A separate market snapshot in the same text showed a price of ₹1,756.80 (down ₹3.00 or 0.17%) as of 12 May 2026 (03:59), with a day range of ₹1,751.50 to ₹1,776.50 and a previous close of ₹1,759.80.

Street estimates versus reported profits: why misses still matter

One segment of the compiled text stated that Bharti Airtel’s Q4 net profit of ₹2,072 crore missed Street estimates of about ₹3,274 crore “by a wide margin.” The same section also referenced a 31% year-on-year profit decline to ₹2,072 crore, revenue growth of 4% to ₹37,599 crore, and ARPU of ₹209.

These figures clearly relate to a different reporting period than Q4FY25 (where profit and ARPU were higher). Still, the inclusion is useful context: Airtel’s quarterly outcomes have not always tracked expectations cleanly, and the stock’s reaction can differ depending on whether investors focus on reported profit, adjusted profit, ARPU, or guidance.

Broker calls and target prices cited

Brokerage positioning in the text is mixed across time but broadly constructive in several updates:

• Morgan Stanley reiterated an “Overweight” stance with a target price of ₹2,450, citing execution, market leadership, and improving industry dynamics.
• ICICI Securities maintained a ‘Buy’ rating with a SOTP-based target of ₹2,450 per share.
• Axis Securities was cited with a ‘Buy’ rating and a target of ₹2,530 in one section.
• In a post-results note, Morgan Stanley was also cited with an ‘equal-weight’ call and a target price of ₹1,870 per share.
• CLSA maintained an ‘outperform’ call with a target price of ₹2,030.

The same compilation also referenced older brokerage target bands of ₹860 to ₹1,008 (Jefferies, Morgan Stanley, Credit Suisse and Prabhudas Lilladher) in the context of Q4FY23 commentary.

Valuation and technical markers mentioned for April 2026

As of April 2026, the stock was described as trading around ₹1,680 on the NSE, with market capitalisation of ₹10,07,000 crore and a trailing P/E of approximately 50x. The 52-week range in that note was ₹1,400 (low) to ₹1,900 (high), with ₹1,900 described as a key resistance and ₹1,400 as key support.

What to watch in the next earnings print (FY26 expectations)

The text also referenced expectations for Bharti Airtel’s Q4 FY26, including:

• Revenue estimate range: ₹44,000 to ₹46,000 crore
• PAT estimate range: ₹3,000 to ₹3,600 crore

It also flagged that the near-term share price reaction would depend on results relative to estimates and management guidance for FY27, with a short-term range of ₹1,700 to ₹1,900 referenced in that context.

Key numbers at a glance

Analysis: why the quarter and targets are being tracked closely

The Q4FY25 set of numbers stood out because the headline profit jump was amplified by a tax gain, while adjusted profit growth and ARPU provided a more operational view. The reported dividend also adds a tangible shareholder return marker that analysts often incorporate into total return expectations.

At the same time, the mixed set of historical snippets in the text shows why Airtel results are often read alongside ARPU trajectory, subscriber additions, and segment commentary (India, Africa, and Airtel Business). With the stock discussed at multiple price points across April to May 2026, investors appear focused on whether the next print lands within the stated FY26 revenue and PAT ranges.

Conclusion

Bharti Airtel’s Q4FY25 featured a sharp rise in reported profit to ₹11,022 crore, adjusted profit of ₹5,223 crore, revenue of ₹47,876 crore, ARPU of ₹245, and a final dividend of ₹16 per share. The next key catalyst in the same compilation is the upcoming FY26 earnings outcome versus estimates, along with any FY27 guidance shared by management.