Bharti Airtel’s multifold jump in Q1 net fails to bring target upgrades for stock. Here’s why

NEW DELHI: Bharti Airtel’s June quarter results, analysts said, reinforced its execution capabilities. The strong average revenue per user (ARPU), the best tariff pass-through among peers and good traction in Enterprise and Homes Services businesses were all positives.

Analysts are, however, unsure of the payback from 5G. Given that Bharti Airtel has been aggressive in 5G spectrum purchases, a few among them believe high capex may delay the deleveraging process. All eyes are on tariff hikes, they said while suggesting up to 9-34 per cent potential upside for the scrip.