Financial Performance Highlights

Consolidated Results:

  • Total revenues: ₹60,878 crore, up 4.0% QoQ and 16.7% YoY
  • EBITDA: ₹35,240 crore, up 4.9% QoQ and 17.8% YoY
  • EBITDA margin: 57.9% (57.4% in Q2'26)
  • EBIT: ₹20,556 crore, up 6.6% QoQ and 23.3% YoY
  • EBIT margin: 33.8% (32.0% in Q2'26)
  • Profit before tax: ₹15,608 crore, up 10.5% QoQ and 26.7% YoY
  • Net income (before exceptional items): ₹9,015 crore, up 11.9% QoQ and 32.7% YoY (compared to ₹6,792 crore in Q2'26)

India Business Performance:

  • India revenues: ₹42,308 crore, up 2.7% QoQ and 9.4% YoY
  • India EBITDA: ₹25,729 crore with EBITDA margin of 60.8%
  • India EBITDAaL: ₹23,778 crore with margin of 56.2%
  • India EBIT: ₹14,087 crore with margin of 33.3%

Operational Metrics

Customer Base (in thousands):

  • India: 498,685 (up 1.4% QoQ, 10.9% YoY)
  • Africa: 193,893 (up 2.6% QoQ, 11.6% YoY)
  • Total: 692,579 (up 1.7% QoQ, 11.1% YoY)

Mobile Business Highlights:

  • India mobile revenue growth: 10.1% YoY
  • ARPU: ₹271 (increased from ₹256 in Q2'26)
  • Smartphone data customer additions: 18.8 million YoY, 2.9 million QoQ
  • Smartphone data customers now comprise 81% of total mobile base
  • Postpaid net additions: 1.2 million (strongest performance in any single quarter)
  • Total postpaid base: 31.2 million
  • Mobile data usage: 36.5 GB per customer per month (up 36.5% YoY)

Segment Performance:

  • Homes segment revenue growth: 25.3% YoY
  • Homes net customer additions: 676,000 in Q2'27
  • Total Homes customer base: 15.4 million
  • Airtel Business revenue growth: 11.4% YoY, 3.8% QoQ
  • Digital TV revenues: ₹771 crore (up 2.4% YoY)
  • Digital TV customer base: 15.6 million
  • Passive Infrastructure Services revenue: up 4.0% YoY

Africa Performance:

  • Revenue growth: 20.6% YoY in Constant Currency, 25.7% YoY in Reported terms
  • Customer base: 193.9 million

Capital Expenditure and Investments

  • Consolidated capex: ₹12,467 crore
  • India capex: ₹9,908 crore
  • Additional investment: ₹2,826 crore in strategic land parcel for data center expansion in India

Balance Sheet Metrics

  • Consolidated Net debt-to-EBITDA ratio (annualised): improved to 1.18 from 1.63 as of September 30, 2025
  • Consolidated Net Debt (excluding lease obligations) to EBITDAaL ratio (annualised): 0.70

Strategic Developments

  • Network expansion: Deployed 497 towers and 11,684 mobile broadband base stations during the quarter. Over past year: 5,649 towers and 44,718 kilometers of fiber
  • Partnership: Airtel Business and ITI Limited entered into strategic partnership to accelerate India's digital transformation
  • Product enhancement: Airtel strengthened postpaid proposition by adding Apple's expanded iCloud+ offerings including Apple TV and Apple Arcade
  • Data center ambition: Investment marks step towards building 1 GW of data centre capacity
  • Financial Services: Early traction following commercial launch described as "very encouraging"

Management Commentary

Gopal Vittal, Executive Vice Chairman, stated: "We delivered another quarter of consistent performance with consolidated revenues of Rs 60,878 crore, increasing 4.0% QoQ, underscoring the strength of our diversified portfolio. Africa delivered a standout quarter with 6.7% QoQ constant currency revenue growth. Africa's improving performance is also benefiting from the rollout of Airtel's homegrown technology stack across markets, powering our go-to-market capabilities. Group-wide synergies are also beginning to deliver tangible operating gains."