Bharti Airtel Q2 FY27 Results: Consolidated Net Profit ₹10,710 Crore on Total Income of ₹61,754 Crore
- Earnings
- Telecommunications
Reviewed byKeshav SehgalBlacklitt Research
Bharti Airtel (NSE: BHARTIARTL) reported consolidated total income of ₹61,754 crore and net profit of ₹10,710 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026. Standalone total income for the quarter was ₹36,445 crore and standalone net profit ₹7,933 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹61,754 crore, up 16.8% YoY and 3.9% QoQ
- Net profit and EPS: ₹10,710 crore, up 23.8% YoY; basic EPS ₹14.25 against ₹11.72
- Finance costs: ₹5,707 crore, down 4.2% QoQ and up 17.3% YoY
- Exceptional item: ₹180.2 crore charge for the Airtel Mobile Commerce NV London listing
Standalone
The company on its own, without its subsidiaries
- Total income: ₹36,445 crore, up 16.9% YoY and 10.7% QoQ
- Net profit and EPS: ₹7,933 crore, up 74.6% YoY; basic EPS ₹12.71 against ₹7.84
- Other income: ₹3,073 crore, up 184.8% YoY, 8.4% of total income
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 61,754 | 52,873 | +16.8% | 59,446 | +3.9% | |
| Revenue from operations | 60,878 | 52,145 | +16.7% | 58,539 | +4.0% |
| Other income | 877 | 728 | +20.5% | 907 | -3.3% |
| 10,710 | 8,651 | +23.8% | 10,012 | +7.0% | |
| Profit before tax | 15,428 | 12,322 | +25.2% | 13,773 | +12.0% |
| Finance costs | 5,707 | 4,866 | +17.3% | 5,956 | -4.2% |
| Depreciation | 14,617 | 13,182 | +10.9% | 14,235 | +2.7% |
| Tax expense | 4,718 | 3,672 | +28.5% | 3,761 | +25.4% |
| Net profit margin | 17.34% | 16.36% | +0.98 pp | 16.84% | +0.50 pp |
| EPS, basic (₹) | 14.25 | 11.72 | +21.6% | 13.38 | +6.5% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income. Net profit rose 23.8% YoY while total income rose 16.8%, and profit before tax rose 25.2%. Tax expense rose 28.5% YoY to ₹4,718 crore, which is 30.6% of profit before tax, so the tax line grew faster than profit before tax.
Revenue from operations was ₹60,878 crore, up 16.7% YoY, and other income was ₹877 crore, up 20.5%. Other income is 1.4% of total income, so growth in the top line rests mainly on operating revenue.
The consolidated figures include an exceptional charge of ₹180.2 crore for expenses of the Airtel Mobile Commerce NV listing on the London Stock Exchange on 9 Oct 2026, after the quarter ended. The related tax benefit is stated as ₹7 crore, and the net charge attributable to non-controlling interests is ₹45.8 crore.
EBITDA was ₹35,240 crore, up 17.8% YoY, with a margin of 57.9%. Net debt excluding lease obligations was ₹88,277 crore at 30 Sep 2026, against ₹1,26,651 crore a year earlier, and the net debt to EBITDA ratio (annualised, excluding leases) was 0.70 times against 1.19 times.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 36,445 | 31,171 | +16.9% | 32,918 | +10.7% | |
| Revenue from operations | 33,372 | 30,092 | +10.9% | 32,357 | +3.1% |
| Other income | 3,073 | 1,079 | +184.8% | 561 | +447.8% |
| 7,933 | 4,545 | +74.6% | 5,428 | +46.2% | |
| Profit before tax | 9,837 | 6,078 | +61.9% | 6,743 | +45.9% |
| Finance costs | 3,778 | 3,854 | -2.0% | 3,690 | +2.4% |
| Depreciation | 9,226 | 8,623 | +7.0% | 9,065 | +1.8% |
| Tax expense | 1,984 | 1,533 | +29.5% | 1,316 | +50.8% |
| Net profit margin | 21.77% | 14.58% | +7.19 pp | 16.49% | +5.28 pp |
| EPS, basic (₹) | 12.71 | 7.84 | +62.1% | 8.89 | +43.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 74.6% YoY, much faster than total income, which rose 16.9%. Other income is 31.2% of standalone profit before tax of ₹9,837 crore.
Standalone revenue from operations grew 10.9% YoY to ₹33,372 crore, slower than other income. Finance costs fell 2.0% YoY to ₹3,778 crore. Standalone tax expense of ₹1,984 crore is 20.2% of profit before tax.
The article uses the reported net profit of ₹7,933 crore.
Inference
The filing says the board approved the results on 5 Nov 2026 after Audit Committee review, and Deloitte Haskins & Sells LLP issued unmodified opinions with an Other Matter paragraph on two subsidiaries and an associate audited by other auditors.
The filing declares an interim dividend of 3.1 cents for the half year ended 30 Sep 2026, payable on 11 Dec 2026 to shareholders on the register at close of business on 13 Nov 2026. Nxtra Data Limited invested ₹2,826 crore in a land parcel for data centre expansion, and Airtel Africa bought back $66 million of shares in the quarter, taking the programme total to $109 million; the filing does not say whether further tranches will follow or what the over-allotment option will amount to.
The filing does not say what the Airtel Business and ITI Limited partnership will be worth or what it will add to revenue.
Filed with BSE on . Reference: Original filing (PDF)
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