ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

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 2020 INRUSD
Gross Profit153,924M2,170.81M
Operating income90,912M1,282.14M
Income before tax-434,989M-6,134.72M
Net income-321,832M-4,538.85M
Diluted EPS-63.40-0.89
Dividends Per Share20.02
Total Assets3,662.70B48,415.60M
Total liabilities2,641.40B34,915.56M
Total equity771,448M10,197.42M
Operating cash flow76,042M1,072.43M
Currency in INRCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 965,321M 954,683M 826,388M 807,802M 875,390M
Gross Profit 306,969M 278,641M 183,283M 125,102M 153,924M
Operating income 166,577M 157,270M 108,470M 45,997M 90,912M
Income before tax 117,797M 77,233M 22,061M -20,874M -434,989M
Net income 60,767M 37,998M 10,990M 4,095M -321,832M
EBITDA 341,075M 355,000M 300,901M 259,472M 367,808M
Diluted EPS 13.95 8.73 2.52 0.87 -63.40
Dividends Per Share 1.24 0.91 4.90 2.29 2
Total Assets 2,298.40B 2,402.07B 2,594.74B 2,841.88B 3,662.70B
Total liabilities 1,575.72B 1,658.76B 1,811.26B 1,992.40B 2,641.40B
Total equity 667,693M 674,563M 695,344M 714,222M 771,448M
Operating cash flow 250,312M 298,190M 270,536M 140,817M 76,042M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 14,744.29M 14,236.87M 12,818.96M 11,549.48M 12,345.78M
Gross Profit 4,688.63M 4,155.28M 2,843.09M 1,788.63M 2,170.81M
Operating income 2,544.29M 2,345.31M 1,682.59M 657.63M 1,282.14M
Income before tax 1,799.22M 1,151.75M 342.21M -298.44M -6,134.72M
Net income 928.15M 566.65M 170.47M 58.54M -4,538.85M
EBITDA 5,209.57M 5,293.99M 4,667.58M 3,709.77M 5,187.26M
Diluted EPS 0.21 0.13 0.03 0.01 -0.89
Dividends Per Share 0.01 0.01 0.07 0.03 0.02
Total Assets 34,707.24M 36,991.97M 39,783.43M 41,023.22M 48,415.60M
Total liabilities 23,794.43M 25,544.94M 27,770.82M 28,760.79M 34,915.56M
Total equity 10,082.56M 10,388.28M 10,661.23M 10,309.95M 10,197.42M
Operating cash flow 3,823.25M 4,446.80M 4,196.56M 2,013.31M 1,072.43M

Valuation Measures

Mar 2020
Operating margin10.38%
Profit margin-36.76%

Key executives

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


  • Bharti Telecom Ltd. (36.0%)
  • Singapore Telecommunications Ltd. (13.9%)
  • Bharti Overseas Pvt Ltd. (6.0%)
  • Life Insurance Corp of India (3.1%)
  • ICICI Prudential Asset Management Co. Ltd. (2.7%)
  • SBI Funds Management Pvt Ltd. (2.2%)
  • GIC Pte Ltd. (Investment Management) (1.3%)
  • ICICI Prudential Life Insurance Co. Ltd. (Invt Port) (1.1%)
  • Capital Research & Management Co. (World Investors) (1.1%)
  • HDFC Asset Management Co. Ltd. (Invt Mgmt) (1.0%)

Contact Details

  • Website:
  • Address: Bharti Crescent, 1, Nelson Mandela Road, New Delhi, 110070, India
  • Phone: +91.11.46666100

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
  • Singapore Telecommunications Limited
  • MTN Group Limited
  • VEON Ltd.
  • Sify Technologies Limited Sponsored ADR
  • American Tower Corporation
  • Dish TV India Limited
Last Updated on 9 Apr, 2021

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more