Adjusted for Indus Towers’ financials, Airtel’s profits rose 121.3% on-year to ₹5,514 crore, with the full impact of the June 2024 tariff hikes coming through and customers moving to higher-priced plans.

The company cited strong underlying momentum in India and sustained constant currency growth in Africa as other reasons for the latest growth. Consolidated revenue from operations stood at Rs 45,129 crore in Q3, up 19.07 per cent from Rs 37,899 crore in Q3 of 2023-24 (FY24). Other income for the quarter stood at Rs 469.7 crore.

A Moneycontrol poll of seven brokerage firms had estimated Bharti Airtel's consolidated net profit to double year-on-year to Rs 5,039 crore, with revenue expected to rise nearly 16 percent to Rs 43,874 crore. A poll of six brokerages had projected the company's EBITDA margin at 54 percent.