Bharti Airtel Stock Enters Bullish Phase Ahead Of Q4 Earnings, Says SEBI RA

Bharti Airtel’s earnings outlook led by strong ARPU-led momentum and a bullish chart breakout. The stock’s technical breakout may be tested post-results.

All eyes are on Bharti Airtel as the telecom major prepares to announce its March-quarter (Q4 FY25) earnings. 

Analysts expected a steady performance for the March quarter, led by a robust year-on-year profit jump fuelled by continued growth in Average Revenue Per User (ARPU).

SEBI-registered analyst Rohit Mehta noted that Airtel had consistently maintained a strong dividend payout ratio of 42.8%, underscoring its shareholder-friendly approach. 

However, he flagged concerns over capital efficiency, with the company delivering a modest 11.3% return on equity over the past three years.

Valuation remained a sticking point. The stock traded at 12.2 times its book value — well above peers — indicating a premium that could limit near-term upside unless earnings meaningfully outperformed expectations.

Another point of caution was the dip in promoter holding in the previous quarter.

On the technical charts, Airtel’s stock had been in a pronounced downtrend from October to December 2024, forming lower highs and lower lows. 

However, a key support zone between ₹1,732.50 and ₹1,765.65 proved resilient, with prices consolidating and bouncing back multiple times.

Following the formation of a cup-like base pattern, Bharti Airtel’s stock broke out above this support, entering a bullish phase and reaching ₹1,857.60 as of the latest session, according to Mehta.

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According to data from Stocktwits, retail sentiment remains ‘bullish’ on the counter.

Bharti Airtel shares gained 15% year-to-date (YTD).

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