Citi has reiterated its Buy rating on Bharti Airtel, setting a target price of ₹1,950, indicating a potential upside of 17% from the current market price of ₹1,665.05. Bharti Airtel reported a robust Q2 performance, with India mobile revenue and EBITDA growing 10% and 13% quarter-over-quarter, respectively, exceeding estimates by 3% and 5%. This growth was achieved with minimal subscriber churn despite a recent tariff hike.
The company’s consolidated revenue and EBITDA came in at ₹415 billion and ₹220 billion, 2% and 4% above expectations, respectively. Notably, India’s capital expenditure continued its downward trend, although consolidated net debt increased by 9% quarter-over-quarter due to India spectrum payments and lease renewals in Africa. Net debt-to-EBITDA remained stable at 2.5 times.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors are advised to perform their due diligence before making investment decisions.
