Are Bharti Airtel Ltd latest results good or bad?

Bharti Airtel Ltd's latest financial results for the quarter ending December 2025 reflect a complex operational landscape. The company reported net sales of ₹53,981.60 crores, marking a year-on-year growth of 19.62%, which is the highest quarterly revenue in its history. This growth was driven by effective tariff optimization in mobile services and strong performance in enterprise and digital services segments. Additionally, the operating margin expanded to 57.02%, indicating enhanced pricing power and operational efficiency. However, the consolidated net profit for the quarter was ₹6,630.50 crores, which represents a significant year-on-year decline of 55.14%. This drop is attributed to the absence of exceptional gains that were recognized in the previous year. On a sequential basis, the net profit decreased by 2.37% from the previous quarter, reflecting a more nuanced picture of profitability amidst strong revenue growth. The financial performance over the nine-month period ending December 2025 shows a consolidated net profit of ₹19,369.10 crores and revenues of ₹1,55,589.60 crores, indicating a profit growth of 27.32% and revenue expansion of 24.37% compared to the same period last year. The company's ability to maintain operational excellence is underscored by its return on capital employed (ROCE) reaching 19.46%, the highest in recent periods, which reflects improved profitability and asset utilization. Despite these positive operational trends, the company experienced a revision in its evaluation, indicating a shift in perception regarding its financial standing. The balance sheet shows a reduction in long-term debt, demonstrating ongoing deleveraging efforts, while cash and cash equivalents reached a record high, providing financial flexibility for future investments. In summary, while Bharti Airtel Ltd showcases robust revenue growth and operational efficiency, the substantial decline in net profit and the recent adjustment in its evaluation suggest that investors should remain vigilant regarding the company's profitability trajectory and market dynamics.