Airtel Business most profitable business for telco: ICICI Securities

NEW DELHI: Airtel Business, the B2B arm of Bharti Airtel is the most profitable business for the telecom major given that it contributed 14% to the consolidated revenue and 12% to the EBITDA in FY21, according to a report by ICICI Securities.

“Airtel Business revenue has grown at CAGR of 7.1% over FY17-21 to Rs144bn and EBITDA has grown at 12.9% CAGR to Rs55bn. It has generated FCF (EBITDA minus capex) of Rs132bn in the past five years; in the past three years ROIC has been 35-40%,” it said.

Airtel Business derives 80% revenue from 20% customers, and sees “huge potential in farming and hunting”.