Limited impact on telcos from interest rate hike, forex fluctuations: JP Morgan

India’s telcos like Bharti Airtel NSE 0.89 % and Vodafone Idea NSE 1.09 % are unlikely to see a significant negative impact due to rising interest rates and forex fluctuations, said JP Morgan in a note.

The brokerage said that Bharti Airtel’s exposure to interest rate fluctuations and forex rates could impact its profit after tax by 1%, 2%, and 3% in FY23, FY24, and FY25 respectively. Vodafone Idea’s PAT sensitivity to the same is projected at 1%, 1%, and 2% for FY23, FY24, and FY25 respectively.