Bharti Airtel Q2 first cut – EBITDA and EBITDA margin ahead of expectation
· 2Q net loss Rs763cr (down 97% YoY) – Estimates Rs300cr
· 2Q revenue Rs25790cr (up 22% y/y), estimate 24500cr
· 2Q other income Rs150cr vs Rs400cr (expectation Rs700cr)
· 2Q India mobile ARPU Rs162 (up 27% y/y) – expectation flat growth
· 2Q Ebitda margin 46% vs. 42.3% y/y – expectation 43.7%
· 2Q capital expenditure Rs6790cr
· 2Q Ebitda Rs11850cr (up 32.6% YoY) – Expectation Rs10700cr