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Vi's latest result shows better operating traction, underpinned by network investments translating into a better customer experience. The management highlighted priorities around reducing customer churn, strengthening the subscriber mix and driving monetisation through differentiated propositions alongside wider 4G/5G expansion. The enterprise segment continues to build momentum across connectivity and digital solutions, supported by broader capabilities and go-tomarket initiatives. The management also reiterated its focus on cost discipline and efficiency to support profitability as scale improves. But key risks include delays in...
Airtel delivered strong double-digit revenue growth, driven by sustained portfolio premiumisation, robust customer additions across mobile and homes segments, and *over or under performance to benchmark index deepening penetration in enterprise digital services. The management's strategic focus on scaling adjacencies, including 1GW data centre capacity, non-banking financial company (NBFC)-led financial services expansion and sovereign cloud offerings, positions Airtel to capitalise on India's digital transformation. Accelerated fibre deployment, artificial intelligence (AI)-driven operational efficiencies, convergence-led...
Strong earnings visibility supported by premiumisation. Homes segment emerging as second growth engine. Potential tariff hikes may support ARPU growth. Improving margins & deleveraging strengthening profitability.
*over or under performance to benchmark index Tata Communications, a provider of network services that include software-defined networking solutions, operates in 190+ countries and serves more than 7,000 clients,...
Wireless Business steady: The wireless business of Airtel was steady with muted ARPUs amid no tariff hike. It continued to witness healthy key metrics in Q4 such robust 4G+5G Net adds of 5.8 mn during the quarter, wireless margins at 60.7%, up 14 bps QoQ, along with debt reduction...
Railtel Corporation of India’s (Railtel) Q4FY26 net profit grew 24.9% YoY, driven by telecom services, while project revenue growth did not translate into EBIT growth as margin continues to shrink.
HFCL's foray into defence vertical offers medium-term revenue visibility, with electronic fuses nearing commercialization and a diversified portfolio targeting 400500cr revenue in FY27, scaling to >1,000cr by FY28; this is further strengthened by the recent 25cr...
TCom’s Q4FY26 print shows an uptick in EBITDA for data business (+17.6% YoY), though partially helped by INR’s depreciation while its order book (OB) continues to grow in healthy double digits. Digital revenue grew a healthy 19% YoY alongside EBITDA losses shrinking in Q4FY26.
Tata Communications (TCOM) delivered steady 4Q, with 11.5% YoY (~6% QoQ) data revenue growth driven by acceleration in Digital portfolio growth (+19% YoY, vs. ~15% YoY in 3Q) and ~4.5% YoY core-connectivity growth.
About the stock: Bharti Airtel (Airtel) is India's second largest telecom operator with ~36.9 crore wireless customers in India and ~17.9 crore subscribers across 14 African countries. It enjoys industry leading ARPU in the wireless business in India. Q3FY26 Performance: Consolidated topline at 53982 crore, was up 3.5% QoQ and up 19.6% YoY. India wireless revenues were up 1.9% QoQ (up 9.1% YoY) at 28652 crore, driven by steady ARPU which came at 259, 1.1% QoQ and up ~5.4% YoY and subscriber addition of 4.4 mn to 368.5 mn. It witnessed healthy 4G+5G Net adds of 5.2 mn, with 4G/5G data subbase at 291 mn. The post-paid subscriber base...
Bharti Hexacom (BHL) reported a steady 3Q, with ~1.5-2% QoQ growth in wireless revenue and EBITDA, which remained slightly weaker vs. BHARTI, despite seasonality benefits.
Bharti Airtel (BHARTI) reported a steady performance in 3QFY26, with consolidated EBITDA rising 4% QoQ. India performance (EBITDA +2% QoQ) was broadly in line, while Airtel Africa (+11% QoQ, 4% ahead) continued to benefit from Nigeria tariff hikes and favorable currency movements.
As per market consensus, Indus Towers is currently trading at a 1year fwd. P/E of 15x ( 3 year Avg P/E of 12x). Indus Towers is advancing its strategic expansion into African markets while maintaining a strong focus on operational excellence, digital transformation, and customer...
Indus Towers’ (Indus) 3QFY26 was broadly in line with our estimates, with recurring EBITDA (excl. provision reversals) rising 2% QoQ to INR44.7b. Operationally, tenancy additions picked up QoQ (after a subdued 2Q), driven by acceleration in Vi’s rollouts during 3Q.
Vodafone Idea’s (Vi) management laid out ambitious goals of double-digit revenue growth and increasing cash EBITDA to 3x over FY26-29 (from ~INR90b in FY26), with heavy lifting done by improved subscriber trends.
Tata Communications’ (TCom) Board has approved the appointment of Mr Ganesh Lakshminarayanan as new MD & CEO with impending retirement of Mr AS Lakshminarayanan in Apr’26.
Tata Communications (TCOM) delivered a steady 3Q, with 9% YoY (~3.5% QoQ, in line) data revenue growth, driven by a recovery in core connectivity (+4% YoY) and sustained growth in the Digital portfolio (+15% YoY).
