StreetView - ARPU growth lifts margins and cash flow at India's Bharti Airtel

Bharti Airtel

06/02/2026 05:07

** Bharti Airtel BRTI.NS posted seventh consecutive quarterly profit jump as subscribers upgraded to higher-margin telecom plans

** Shares of India's second-largest mobile carrier by number of users trading flat on the day

ARPU GROWTH DRIVES MARGINS, BOOSTS FREE CASH FLOW

** Macquarie ("Outperform", PT: 2250 rupees) says co's third-quarter was operationally in line, supported by ARPU-led margin expansion and strong free cash flow

** Goldman Sachs ("Buy", raises PT to 2250 rupees from 2230 rupees) notes a steady quarter with improving free cash flow, resilient wireless growth and easing capex intensity

** ICICI Securities highlights co's resilient India wireless performance, steady ARPU growth, margin expansion and lower net debt on strong cash generation

** Jefferies ("buy", revises PT to 2575 rupees from 2760 rupees) says third-quarter results were broadly in line, with profit growth driven by margin expansion, strong Africa performance and robust free cash flow

 (Reporting by Surbhi Misra in Bengaluru)

 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))