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Bharti Airtel, a leading Indian telecom organisation, published its financial results for the third quarter (Q3) of FY24 on February 3rd, 2024. While headlines highlight profit growth and positive metrics, a closer look reveals a more nuanced picture. This blog aims to present a neutral and factual overview of the key numbers, allowing you to form your own informed opinions.

Financial reports

The net profit of Bharti Airtel jumped 54% to Rs. 2,442 crore year-on-year. The company surpassed industry estimates but fell a little short of analyst expectations. The company’s revenue saw a 6% increase year-on-year, rising to Rs. 37,900 crore. While the report indicated overall growth across all segments, the revenue in Africa faced a slight decline due to currency headwinds, highlighting external factors influencing performance. The average revenue per user, or ARPU, saw a marginal rise to Rs. 208 from its previous year’s statistic of Rs. 193.

Network and user base

  • The combined 4G/5G customer base reached 24.5 crore, demonstrating progress in network upgrades and digital adoption. This expansion can translate into future revenue streams as data consumption increases.
  • Airtel continues to invest in 5G rollout, positioning itself for a potential market shift and enhanced user experience.

Debt management

  • Airtel's consolidated net debt (excluding lease obligations) reduced slightly to Rs. 1.42 lakh crore compared to the previous year.
  • Effective debt management remains critical for the company's long-term financial health and investor confidence.

Beyond the numbers

While the financial results offer data points, understanding the broader context is crucial. Factors like intense competition, regulatory changes, and economic fluctuations can impact future performance. Additionally, Airtel's ability to execute its growth strategies, particularly in areas like 5G monetisation and digital services, will be closely watched by investors.


This blog provides a factual overview based on publicly available information and does not constitute financial advice. Conduct your own research and consult with qualified professionals before making any investment decisions.

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