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Bharti Airtel Ltd.

Company Background

Bharti Airtel is India's largest cellphone carrier. It serves more than 200 million subscribers in the country. The company is expanding its business in Sri Lanka, Bangladesh and African countries as well.


Chairman Sunil Bharti Mittal founded the company. It started out as a manufacturer of bicycle parts in the 1970s and began making push-button phones in an alliance with Siemens in the 1980s. The company in 1995 became the first in India to offer a mobile phone service.


In the 2000s, Bharti Airtel forged a capital tie-up with Singapore Telecommunications, or Singtel, and boosted its operations by acquiring domestic phone companies. It stepped up its expansion abroad as it took over a telecommunications company in Bangladesh in 2010 and bought 15 African businesses from Kuwait's Zain group.


The Bharti group is overseen by Bharti Enterprises. The leading shareholder of Bharti Airtel is Bharti Telecom, which owns an interest of more than 40% in the company. Singtel, which has bought into Bharti Telecom and Bharti Airtel via group companies, owns a stake of about 30% in Bharti Airtel.


Business Summary

Bharti Airtel Ltd. engages in the provision of telecommunication, tower infrastructure, and direct-to-home digital television services. It operates through the following segments: Mobile Services India, Mobile Services South Asia, Mobile Services Africa, Airtel Business, Tower Infrastructure Services, Homes Services, Digital TV Services, and Others. The Mobile Services India segment covers voice and data telecom services provided through wireless technology in India. The Mobile Services South Asia segment covers operations in Sri Lanka and Bangladesh. The Mobile Services Africa handles the company's operations in Africa. The Airtel Business segment offers end-to-end telecom solutions being provided to large Indian and global corporations by serving as a single point of contact for all telecommunication needs across data and voice, network integration, and managed services. The Tower Infrastructure Services segment includes setting up, operating, and maintaining wireless communication towers in India. The Homes Services segment refers to services that cover voice and data communications through fixed-line network and broadband technology. The Digital TV Services segment consists of digital broadcasting services provided under the direct-to-home platform. The Others segment comprises of administrative and support services provided to other segments and also include Airtel payment bank operations. The company was founded by Sunil Bharti Mittal on July 7, 1995 and is headquartered in New Delhi, India.

Financial Highlights

Mar 2021 INRUSD
Gross Profit223,715M3,013.60M
Operating income128,337M1,728.79M
Income before tax-143,954M-1,939.16M
Net income-261,402M-3,521.27M
Diluted EPS-44.97-0.60
Dividends Per Share----
Total Assets3,460.27B47,327.32M
Total liabilities2,648.01B36,217.70M
Total equity589,527M8,063.14M
Operating cash flow438,126M5,901.87M
Currency in INRCurrency in USD

Historical Data

 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 954,683M 826,388M 807,802M 846,765M 1,006.15B
Gross Profit 278,641M 183,283M 125,102M 134,302M 223,715M
Operating income 157,270M 108,470M 45,997M 72,705M 128,337M
Income before tax 77,233M 22,061M -20,874M -454,677M -143,954M
Net income 37,998M 10,990M 4,095M -351,370M -261,402M
EBITDA 355,000M 300,901M 259,472M 343,649M 422,381M
Diluted EPS 8.73 2.52 0.87 -63.40 -44.97
Dividends Per Share 0.91 4.90 2.29 2 --
Total Assets 2,402.07B 2,505.81B 2,751.56B 3,607.79B 3,460.27B
Total liabilities 1,658.76B 1,722.33B 1,902.08B 2,586.49B 2,648.01B
Total equity 674,563M 695,344M 714,222M 771,448M 589,527M
Operating cash flow 298,190M 270,536M 140,817M 76,042M 438,126M
 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 14,236.87M 12,818.96M 11,549.48M 11,942.07M 13,553.68M
Gross Profit 4,155.28M 2,843.09M 1,788.63M 1,894.08M 3,013.60M
Operating income 2,345.31M 1,682.59M 657.63M 1,025.37M 1,728.79M
Income before tax 1,151.75M 342.21M -298.44M -6,412.39M -1,939.16M
Net income 566.65M 170.47M 58.54M -4,955.43M -3,521.27M
EBITDA 5,293.99M 4,667.58M 3,709.77M 4,846.54M 5,689.78M
Diluted EPS 0.13 0.03 0.01 -0.89 -0.60
Dividends Per Share 0.01 0.07 0.03 0.02 --
Total Assets 36,991.97M 38,419.97M 39,719.37M 47,689.75M 47,327.32M
Total liabilities 25,544.94M 26,407.36M 27,456.94M 34,189.71M 36,217.70M
Total equity 10,388.28M 10,661.23M 10,309.95M 10,197.42M 8,063.14M
Operating cash flow 4,446.80M 4,196.56M 2,013.31M 1,072.43M 5,901.87M

Valuation Measures

Mar 2021
Operating margin12.75%
Profit margin-25.98%

Key executives

  • CEO, Managing Director & Executive Director: Gopal Vittal
  • Chief Operating Officer-India & South Asia Region: Ajai Puri
  • Chief Financial Officer: Badal Bagri
  • Chief Technical Officer & Network Director: Randeep Singh Sekhon
  • Chief Information Officer: Pradipt Kapoor


  • Bharti Telecom Ltd. (35.8%)
  • Singapore Telecommunications Ltd. (13.8%)
  • Bharti Overseas Pvt Ltd. (6.0%)
  • Life Insurance Corp of India (3.6%)
  • ICICI Prudential Asset Management Co. Ltd. (3.0%)
  • SBI Funds Management Pvt Ltd. (2.3%)
  • The Vanguard Group, Inc. (1.2%)
  • HDFC Asset Management Co. Ltd. (Invt Mgmt) (1.2%)
  • ICICI Prudential Life Insurance Co. Ltd. (Invt Port) (1.1%)
  • BlackRock Fund Advisors (1.0%)

Contact Details

  • Website:
  • Address: Bharti Crescent, 1, Nelson Mandela Road, New Delhi, 110070, India
  • Phone: +91.12.44222222

Related Companies

  • Bharti Airtel (USA) Ltd.
  • Bharti Airtel (Japan) Pvt Ltd.
  • Bharti Airtel (France) SAS
  • Montana International
  • Airtel Tchad SA
  • Airtel Madagascar SA
  • Airtel Mobile Commerce Nigeria Ltd.
  • Partnership Investments SARL (Congo)
  • Airtel Money Tanzania Ltd.
  • Airtel Mobile Commerce Tchad SARL
  • Airtel Mobile Commerce Madagascar SA
  • Bharti Airtel International (Mauritius) Investments Ltd.
  • Societe Malgache de Telephone Cellulaire SA
  • Bharti Airtel (Hong Kong) Ltd
  • Airtel Money (RDC) SA
  • Airtel Money Niger SA
  • Mobile Commerce Congo SA
  • Airtel Money SA
  • Airtel Mobile Commerce Zambia Ltd.
  • Indian Ocean Telecom Ltd.
  • Channel Sea Management Company (Mauritius) Ltd.
  • Celtel (Mauritius) Holdings Ltd.
  • Bharti Airtel Uganda Holdings BV
  • Bharti Airtel Tanzania BV
  • Bharti Airtel Services BV
  • Bharti Airtel Rwanda Holdings Ltd.
  • Bharti Airtel Nigeria Holdings II BV
  • Bharti Airtel Niger Holdings BV
  • Bharti Airtel Mali Holdings BV
  • Bharti Airtel Madagascar Holdings BV


  • Orange SA
  • MTN Group Limited
  • Singapore Telecommunications Limited
  • Sify Technologies Limited Sponsored ADR
  • American Tower Corporation
  • Dish TV India Limited
Last Updated on 21 Sep, 2021

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