**Bharti Airtel’s Q4FY25 Earnings: Stable Performance Amid Revenue Constraints**
Bharti Airtel is anticipated to report stable earnings for the January-March quarter of FY25, despite facing revenue growth limitations due to its exit from the low-margin wholesale voice and messaging sector. The telecom giant is set to release its fourth-quarter results on May 13, 2025.
Analysts predict that Airtel’s consolidated revenue from operations will rise by 31% year-on-year (YoY) and 9% quarter-on-quarter (QoQ), reaching ₹49,200 crore. This growth is largely attributed to an increase in subscribers, the complete consolidation of Indus Towers, and robust performance from its core operations in India and Airtel Africa. Indus Towers has been fully integrated as a subsidiary since November 19, 2024.
While the exit from the low-margin wholesale voice business is expected to impact revenues, analysts at BofA Securities note that this will be partially offset by the full three-month consolidation of Indus Towers’ revenues. The enterprise segment, which accounts for 13% of Airtel’s revenue, is projected to see a decline during this quarter. However, the underlying business drivers for Airtel remain strong, with India’s cellular revenues expected to increase by 2.5% sequentially, contributing 58% to the overall revenue.
For the January-March quarter, Airtel is expected to report a remarkable 167% YoY increase in net profit, amounting to ₹5,531 crore. However, a sequential decline of 63% in net profit is anticipated, primarily due to a high base from the previous quarter, which included extraordinary gains from the consolidation of Indus Towers. Earnings before interest, taxes, depreciation, and amortization (EBITDA) are projected to grow by 39% YoY and 9.4% QoQ, reaching ₹26,917 crore. Nevertheless, the EBITDA margin is expected to decline by 184 basis points QoQ to 52.7%, influenced by one-off revenue related to Indus Towers in Q3FY25.
Bharti Airtel’s average revenue per user (ARPU), a crucial performance metric, is expected to remain stable at ₹245 sequentially.
**FAQ**
*What factors are influencing Bharti Airtel’s revenue growth in Q4FY25?*
Bharti Airtel’s revenue growth is being influenced by its exit from the low-margin wholesale voice and messaging business, which is expected to restrain overall revenue, despite strong performance in its core operations and the consolidation of Indus Towers.
