Bharti Airtel Shares Hit Record High on Strong Q2 Earnings Across India and Africa

Bharti Airtel shares have surged to record highs following a strong performance in the September quarter of FY26, driven by robust revenue growth and increased profitability across its India and Africa operations. The company's consolidated net profit rose sharply by 73.6% year-on-year to ₹6,792 crore, with consolidated revenue up 25.7% to ₹52,145 crore, supported by a 22.6% increase in India revenue and a 24.2% rise in Africa's constant-currency revenue. Airtel's EBITDA margin improved to 57.4%, reflecting operational efficiency gains, while ARPU rose to ₹256, underpinned by premium subscriber additions and strong monetisation trends. Analysts remain bullish, with Jefferies, CLSA, and Citi maintaining 'Buy' or 'Outperform' ratings and raising price targets, anticipating continued growth driven by subscriber premiumisation and data consumption. The stock has outperformed the Nifty 50, gaining over 30% year-to-date, and Airtel Africa also recorded a new 52-week high, reflecting investor confidence in the group's overall performance. Airtel's strong capital expenditure and expanding customer base of 624 million across 15 countries further underscore its growth momentum.