Bharti Airtel shares rose after a stable Q1 performance. should you buy

The increase in mobile service charges by Bharti Airtel during the reported quarter led to a 25% increase in average revenue per user (ARPU), a key measure of profitability. since 183 146 years ago

“We see potential benefits for both India and Africa businesses aided by steady earnings growth. We value Bharti on FY24E, providing 11x EV/EBITDA to India mobile business and 5x to Africa business, and Our SoTP-Based Targets Arrived at Price 910. Oncoming earnings growth, 5% FCF yield, and ~25% deleveraging bodes well for the stock. Keep buying,” said brokerage and research firm Motilal Oswal.

Analysts at Philips Capital also remain positive on the story and view it as the only investable stock in the region. It has also retained its BUY tag Shares of Bharti Airtel with a target price of 840.

“We see Bharti in a comfortable position, post September-21 sector reforms (read here), with lower repayment obligations and better cash flow. The note said the recent moves to pay off high-cost spectrum dues, refinance high-cost debt and direct tariff hikes, indicate its effort to continuously improve business fundamentals.

The company will start rolling out 5G services this month and will cover all towns and major rural areas in the country by March 2024. “We want to launch 5G from August and roll out pan India very soon. By March 2024 we are confident that we will be able to launch 5G with 5G,” said Gopal Vittal, Managing Director and Chief Executive Officer (CEO), Bharti Airtel. Will be able to cover city and major rural areas. In fact, detailed network rollout plans are in full swing for 5,000 cities in India.”

The views and recommendations given above are those of individual analysts or broking companies and not of Mint.

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