Bharti Airtel will announce its results for the July to September 2026 quarter on Thursday, 5 November 2026. This is the second quarter of the financial year 2026-27, called Q2 FY27. Kotak Institutional Equities expects revenue to rise 2.1% from the previous quarter, according to Livemint.
The results will show how much Airtel earns from each customer and how many new users it added. The stock closed 0.13% higher at ₹2,067 on the NSE on Wednesday.
What is happening today
The quarter under review ended on 30 September 2026. Investors will track revenue growth, profit, average revenue per user (ARPU) and subscriber additions, Livemint said.
Airtel has also set an earnings call with analysts and investors for Friday, 6 November 2026. On such a call, top managers explain the numbers and answer questions about the business.
The Hindu BusinessLine lists Airtel among companies reporting today, with LIC, Titan, M&M, ONGC and Britannia. You can follow other numbers on our results page.
What Kotak expects
Kotak Institutional Equities shared a detailed preview, as reported by Livemint. These are forecasts, not the company's actual numbers.
| Item | Q1 FY27 | Kotak estimate for Q2 FY27 |
|---|---|---|
| Revenue growth from previous quarter | Not given | 2.1% |
| EBITDA growth from previous quarter | Not given | 2.6% |
| ARPU | ₹264 | ₹268 |
| Wireless users added (without M2M) | Not given | 2.5 million |
| Broadband net additions | 0.47 million | 0.75 million |
| Enterprise business margin | 44% | 43% |
The table puts Kotak's Q2 FY27 estimates next to the previous quarter's figures, where they were reported.
EBITDA is the profit a company makes from its main business before loan costs, tax and wear-and-tear costs. Kotak expects it to grow slightly faster than revenue, at 2.6% against 2.1%.
ARPU is the average money a telecom company earns from one user in a month. Kotak expects it to rise to ₹268 from ₹264, partly because this quarter had one extra day. By our calculation, that is a rise of ₹4, or about 1.5%.
Kotak's user estimate leaves out machine-to-machine (M2M) connections. These are SIM cards used by devices, such as a smart meter, not by people. By our calculation, the broadband estimate is about 60% higher than the 0.47 million added in Q1 FY27.
One number may slip. Kotak sees the enterprise margin, from the business that serves companies, at 43%, down from 44%. Margin is the share of revenue kept as profit.
What other analysts said
Seema Srivastava, Senior Research Analyst at SMC Global Securities, expects ARPU to move towards the ₹267 to ₹270 range. That is close to Kotak's estimate. She linked this to users paying for premium digital services, more data use and people dropping extra SIM cards ahead of expected tariff increases.
She said TRAI data trends point to Airtel gaining market share among high-value 4G and 5G users, along with more postpaid customers. She also named Homes broadband, Airtel Business and Africa as sources of cash.
Srivastava said a move of the Indian telecom market towards a duopoly could improve Airtel's return on capital employed (ROCE). She also warned that buying just before results can expose investors to sharp price swings.
Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities, gave a short-term trading view. He said the stock could move towards ₹2,085, ₹2,102, ₹2,125 and ₹2,150 in the near term. "Traders can maintain a positive outlook on the counter while keeping a strict stop-loss below ₹2,020," he said. He added that a fall below that level may weaken the momentum.
These are the views of the analysts named. MarketUpDown makes no forecast for the stock.
How the share has moved
The stock has risen fast in recent weeks but is still slightly lower over one year, according to Livemint.
| Period | Change in share price |
|---|---|
| Past week | Up 4.84% |
| Past month | Up 16.16% |
| Since 1 January 2026 | Down 2.03% |
| Past year | Down 2.16% |
| Past three years | Up 122.14% |
| Past five years | Up 194.91% |
The table shows the share price change over each period. Past returns do not tell us what will happen next.
The wider market has also been strong. On Wednesday, the BSE Sensex rose 383.55 points to 77,301.40, its highest close in over two months, according to Livemint's stocks to watch list. The Nifty 50 rose 149.75 points to 23,960.60, its fifth straight gain. Read more on our markets page.
Why it matters to a common investor
A preview tells you what experts expect. Once real numbers come out, the market compares them with these estimates. A stock can fall even when profit grows, if the numbers miss expectations.
For a simple check, compare ARPU against ₹268, wireless additions against 2.5 million and broadband additions against 0.75 million. Also see whether growth is quarter on quarter (QoQ), meaning against the previous three months, or year on year (YoY), meaning against the same quarter last year. Livemint said analysts expect strong double-digit YoY growth in revenue and net profit.
Readers following telecom may also find our explainer on the Jio Platforms IPO useful.
Risks to keep in mind
- The Kotak and SMC figures are forecasts. Actual results may differ.
- Prices can swing on result days, a risk Srivastava also pointed to.
- The tariff increases Srivastava mentioned are expected, not announced.
- After a 16.16% rise in one month, the stock is still down 2.16% over one year. Short-term gains can reverse.
- Trading levels and stop-loss points are short-term views. They do not measure the company's long-term value.
What to watch next
First, the results on 5 November: ARPU, user additions, broadband growth and the enterprise margin. Second, the earnings call on 6 November, for comments on tariffs and the business ahead. Third, how the share price reacts. The full results will be in the company's filing on the BSE and NSE websites.
Words explained
- ARPU: Average revenue per user. The average money a telecom company earns from one customer in a month.
- EBITDA: Earnings before interest, tax, depreciation and amortisation. Profit from the main business before loan costs, tax and wear-and-tear costs.
- QoQ and YoY: QoQ compares with the previous three months. YoY compares with the same quarter a year ago.
- M2M: Machine-to-machine. SIM connections used by devices, not people.
- Margin: The part of revenue kept as profit. A 43% margin means ₹43 kept from every ₹100 of revenue.
- ROCE: Return on capital employed. It shows how much profit a company earns on the money put into its business.
- Duopoly: A market where two big companies hold most of the business.
- Stop-loss: A price a trader sets to exit a trade and limit the loss if the stock falls to it.
Sources: Livemint, The Hindu BusinessLine.
This article is for information and education only. It is not investment advice. MarketUpDown is not registered with SEBI as an investment adviser or research analyst. Read our disclaimer.