Telecommunications group providing mobile, broadband and enterprise connectivity services in India and Africa.MoreShow less
Profile & Fundamentals
Bharti Airtel (BHARTIARTL.NSE) Profile & Fundamentals
Review Bharti Airtel reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
Bharti Airtel: Company Profile & Ownership
Bharti Airtel Limited operates as a telecommunications company in India and internationally. It operates through the Mobile Services India, Mobile Services Africa, Mobile Services South Asia, Airtel Business, Passive Tower Infrastructure Services, Homes Services, Digital TV Services, and Others segments. The company provides voice and data telecom services through wireless technology including 2G/3G/4G/5G services; passive infrastructure service, including the setup, operation, and maintenance of wireless communication towers; mobile money services; home services covering voice and data communications through fixed-line network, wireless network, and broadband technology for homes; and digital TV services comprising digital broadcasting services under the DTH platform and IPTV services. It also engages in the airtel business that includes MPLS, VoIP, SIP trunking, fixed line voice solutions, communications platform as a service (CPaaS), internet of things (IoT), managed services, enterprise mobility applications, cloud, and cybersecurity, data and voice, network integration, managed services, security, and platform services. In addition, the company offers post-paid, prepaid, roaming, data services, OTT content, and various value-added services, as well as mobile TV, video calls, live-streaming videos, gaming, and high-definition (HD) and 4K content services. The company was formerly known as Bharti Tele-Ventures Limited and changed its name to Bharti Airtel Limited in April 2006. Bharti Airtel Limited was incorporated in 1995 and is headquartered in Gurugram, India.
Company profile record
Bharti Airtel Limited
Common Stock · Communication Services · Integrated Telecommunication Services
Company
- Company / asset
- Bharti Airtel Limited
- Security type
- Common Stock
- Sector
- Communication Services
- Industry
- Integrated Telecommunication Services
- HQ
- 🇮🇳 India
- Head office
- Airtel Center, Plot No. 16, Gurugram, India, 122015
Leadership & scale
- Chief executive
- Mr. Shashwat Sharma
- CEO year born
- 1981
- Full-time employees
- 28.7K
- Fiscal year end
- March
Fundamentals snapshot
- Market Cap
- INR 13.16T
- P/E
- 42.4x
- Revenue (Q3 26)
- INR 608.8B
- Profit (Q3 26)
- INR 88.9B
- Dividend Yield
- 0.9%
- Revenue (FY 26)
- INR 2.11T
- Shares in public float
- 6.2B
- Insider ownership
- 53.14%
Reporting & identifiers
- Symbol
- BHARTIARTL.NSE
- Listing
- 🇮🇳 India | Dividend Tax: 20%
- Ticker Currency
- INR
- Income Statement Currency
- INR
- Balance Sheet Currency
- INR
- Cash Flow Currency
- INR
- EPS Currency
- INR
- Contract Type
- SPOT
- ISIN
- INE397D01024
- Asset ID
- equity_1788302c-a302-5c28-8b44-6b0d9e845d87
Bharti Airtel: Ownership
Shares Outstanding
Latest: 6.2B | Max: 6.2B | Min: 5.6B
Latest reported ownership snapshot
Float Shares
99.85%
6.2B latest reported shares
Insider Ownership
53.14%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 5,640,723,000 |
| 2018-01-01 | 5,640,723,000 |
| 2019-01-01 | 5,640,723,000 |
| 2020-01-01 | 5,640,723,000 |
| 2021-01-01 | 5,640,723,000 |
| 2022-01-01 | 5,953,764,600 |
| 2023-01-01 | 6,013,836,300 |
| 2024-01-01 | 5,996,430,000 |
| 2025-01-01 | 6,091,472,000 |
| 2026-01-01 | 6,241,222,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Bharti Airtel: Earnings, Profitability & Valuation
Latest Financials Filed On
Cash Flow: INR→USD conversion reference as of . Historical periods use their own dated rates.
Income Statement: INR→USD conversion reference as of . Historical periods use their own dated rates.
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The company's latest financial results demonstrate a decisive shift from destructive price wars toward disciplined cash generation. Consolidated revenue expanded 22.0% in FY26 to 2.11 trillion rupees, while operating profit surged 61.4% to 670 billion rupees. This operational acceleration was powered by mobile ARPU rising to 264 rupees in Q1 FY27 and rapid customer upgrades to premium 5G and fiber broadband services. While headline net income declined 20.4% in FY26 due to the absence of prior-year tax credits and currency devaluations in Africa, true operating performance remains exceptionally healthy. Recurring cash generation continues to compound, proving that higher customer spending drops straight to the bottom line over an established network.
The company's latest financial results demonstrate a decisive shift from destructive price wars toward disciplined cash generation. Consolidated revenue expanded 22.0% in FY26 to 2.11 trillion rupees, while operating profit surged 61.4% to 670 billion rupees. This operational acceleration was powered by mobile ARPU rising to 264 rupees in Q1 FY27 and rapid customer upgrades to premium 5G and fiber broadband services. While headline net income declined 20.4% in FY26 due to the absence of prior-year tax credits and currency devaluations in Africa, true operating performance remains exceptionally healthy. Recurring cash generation continues to compound, proving that higher customer spending drops straight to the bottom line over an established network.
Revenue, Net Income, and Free Cash Flow
Latest: INR 2.11T | Max: INR 2.11T | Min: INR -321.8B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 41x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability margins have expanded dramatically as the domestic telecom market settled into a rational two-player structure. Consolidated operating margin reached 31.7% in FY26, up from 24.0% in FY25, while domestic mobile EBITDA margins surpassed 57%. This margin expansion reflects pure operational leverage: because network running costs remain largely fixed, incremental tariff increases flow directly into profits. These widening margins represent a permanent structural reset rather than a temporary spike. While high power costs and African currency devaluations create localized friction, the company's strong pricing power and expanding enterprise digital services permanently protect corporate profitability against general inflation.
Profitability margins have expanded dramatically as the domestic telecom market settled into a rational two-player structure. Consolidated operating margin reached 31.7% in FY26, up from 24.0% in FY25, while domestic mobile EBITDA margins surpassed 57%. This margin expansion reflects pure operational leverage: because network running costs remain largely fixed, incremental tariff increases flow directly into profits. These widening margins represent a permanent structural reset rather than a temporary spike. While high power costs and African currency devaluations create localized friction, the company's strong pricing power and expanding enterprise digital services permanently protect corporate profitability against general inflation.
Profitability Margins
Latest: 42.7% | Max: 42.7% | Min: -38.0%
Latest Profitability Ratios as of 2026-03-31
Gross Margin
42.7%
Gross profit / revenue
Operating Margin
31.7%
Operating income / revenue
Net Margin
12.7%
Net income / revenue
FCF Margin
29.7%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2017-03-31 | 14,719,133,518.35 | 585,846,438.48 | 1,158,803,576.93 |
| 2018-03-31 | 12,692,182,460.45 | 168,791,276.3 | 388,219,935.49 |
| 2019-03-31 | 11,675,126,463.36 | 59,184,853.3 | -1,736,580,430.7 |
| 2020-03-31 | 11,239,248,739.05 | -4,271,728,165.65 | -343,522,697.11 |
| 2021-03-31 | 13,754,723,171.57 | -3,353,807,245.39 | 2,863,622,693.1 |
| 2022-03-31 | 15,349,255,893.59 | 560,371,394.71 | 1,339,193,994.47 |
| 2023-03-31 | 16,929,650,809.1 | 1,015,439,834.53 | 3,224,990,874.8 |
| 2024-03-31 | 17,992,130,518.23 | 895,753,358.93 | 3,281,513,915.55 |
| 2025-03-31 | 20,241,656,915.52 | 3,926,527,030.19 | 5,079,545,986.43 |
| 2026-03-31 | 22,568,763,371.84 | 2,855,712,451.86 | 6,713,361,146.77 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2026-03-31 | 40.9 | Trailing four quarters |
| 2025-03-31 | 31.4 | Trailing four quarters |
| 2024-03-31 | 99.3 | Trailing four quarters |
| 2023-03-31 | 54.1 | Annual net income |
| 2022-03-31 | 105.9 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2017-03-31 | 29.19 | 16.47 | 3.98 | 7.87 |
| 2018-03-31 | 22.18 | 13.13 | 1.33 | 3.06 |
| 2019-03-31 | 15.49 | 5.69 | 0.51 | -14.87 |
| 2020-03-31 | 15.86 | 8.59 | -38.01 | -3.06 |
| 2021-03-31 | 22.23 | 12.76 | -24.38 | 20.82 |
| 2022-03-31 | 27.79 | 20.84 | 3.65 | 8.72 |
| 2023-03-31 | 32.54 | 25.1 | 6 | 19.05 |
| 2024-03-31 | 33.57 | 25.85 | 4.98 | 18.24 |
| 2025-03-31 | 36.52 | 23.98 | 19.4 | 25.09 |
| 2026-03-31 | 42.67 | 31.74 | 12.65 | 29.75 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-10.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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