Airtel Posts Record Revenue Growth of 19.6% in Q3 FY26
Bharti Airtel, one of India’s largest telecommunications companies, has reported a strong set of financial results for the quarter ended December 31, 2025. The company’s revenue for the quarter grew by 19.6% year-over-year, driven by a significant increase in demand for its mobile and digital services in India and Africa.
India Business Drives Growth
The company’s India business was a key driver of growth, with revenue increasing by 13.2% year-over-year and 1.4% sequentially. This growth was backed by a strong performance from the company’s mobile segment, which saw a 9.1% year-over-year increase in revenue. The company’s average revenue per user (ARPU) also increased to Rs 259, up from Rs 245 in the same quarter last year.
Africa Continues to Deliver Strong Performance
Airtel’s Africa business also delivered a strong performance, with revenue growing by 24.7% year-over-year in constant currency. This growth was driven by a sharp increase in demand for the company’s mobile and digital services, as well as the deployment of its home-grown digital stack.
Digital Services Portfolio Sees Solid Growth
Airtel’s digital services portfolio, which includes its cloud, cybersecurity, financial services, and IoT offerings, saw solid growth momentum during the quarter. The company’s Homes business also maintained strong growth momentum, crossing a quarterly revenue run-rate of Rs 2,000 crore.
Balance Sheet Strength Positions Company Well for Future Growth
The company’s balance sheet strength, reinforced by strong cash generation and sustained deleveraging, positions it well to invest in new growth opportunities. Airtel’s net debt to EBITDA ratio (annualized) stands at 1.02 times, while its net debt (excluding lease obligations) to EBITDAaL ratio (annualized) stands at 1.02 times.
In a statement, Gopal Vittal, Executive Vice Chairman, said: “Q3’26 marked another strong quarter, with consolidated revenue of Rs 53,982 crore, a growth of 3.5% sequentially, underpinning our strategy of a diversified and resilient portfolio.”
Implications and Future Outlook
Airtel’s strong financial performance in Q3 FY26 is a positive sign for the company and its investors. The company’s growth momentum in India and Africa is expected to continue in the coming quarters, driven by the increasing demand for its mobile and digital services. As the company continues to invest in its digital services portfolio and expand its reach, it is well-positioned to drive growth and profitability in the future.
However, the company will need to continue to innovate and adapt to changing market conditions to maintain its leadership position in the highly competitive telecommunications market. As the industry continues to evolve, Airtel will need to stay ahead of the curve and invest in new technologies and services to drive growth and profitability.
What will be the key drivers of growth for Airtel in the coming quarters, and how will the company maintain its leadership position in the highly competitive telecommunications market? Only time will tell.
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