Bharti Airtel Ltd
(BSE Code: 532454) (CMP: Rs.302.45) (FV: Rs.5) (TGT: Rs.370+)
Incorporated in 1995, New Delhi based Bharti Airtel Ltd (BAL) is a subsidiary of Bharti Telecom Ltd that operates as a telecommunications company in Asia and Africa. It operates through the following segments: Mobile Services India; Mobile Services Africa; Mobile Services South Asia; Airtel; Tower Infrastructure Services; Homes Services; Digital TV Services; and Others. It offers 2G, 3G, and 4G wireless services as well as mobile commerce, fixed line, high speed DSL broadband, Internet Protocol TV, direct-to-home (DTH) and national and international long distance enterprise services. It also provides voice, data, video, network integration, data center and managed services as well as enterprise mobile applications and digital media solutions. In addition, it operates a submarine cable system, provides tower and related infrastructure and manages telecom towers and communication structures. As at 31 March 2018, it served 413.8 million customers.
BAL’s Q2FY19 numbers disappointed the Street with a 300 bps decline in EBITDA margin to 30.8% on account of higher network opex and 4.5% QoQ fall in ARPU (average revenue per user). Its Africa business continued to surprise positively