Bharti Airtel: Retroactive Outlook Revision

Indian Telecoms. Vodafone/IDEA Squeezed by Jio and Needs to Raise More Capital.

Jio Pressure Remains Intense on Incumbent Indian Telcos

Jio's Aggression Continues to Pressure Indian Telcos.

Indian Telcos: Are We Looking at a Two-Player Market as JIO Keeps the Pressure on Incumbents?

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<p>Into the 4Q18 (March YE) results, some analysts were concerned that <a href="https://www.smartkarma.com/entities/953" target="_blank" data-smartkarma-citation="entities:953:1">Bharti Airtel (BHARTI IN)</a> could report a quarterly loss as the ongoing aggression from Jio devastated Indian profits. We have noted before that Bharti was less exposed to Indian mobile than <a href="https://www.smartkarma.com/entities/15678" target="_blank" data-smartkarma-citation="entities:15678:1">IDEA (IDEA IN)</a> given its non-telco Indian businesses and Africa.  And in fact the overall results were a bit better than expected although the domestic mobile business did fall to loss at the Ebit level as margins compressed. More positively…</p>

Into the 4Q18 (March YE) results, some analysts were concerned that Bharti Airtel (BHARTI IN) could report a quarterly loss as the ongoing aggression from Jio devastated Indian profits. We have noted before that Bharti was less exposed to Indian mobile than IDEA (IDEA IN) given its non-telco Indian businesses and Africa.  And in fact the overall results were a bit better than expected although the domestic mobile business did fall to loss at the Ebit level as margins compressed. More positively…

Bharti Airtel's Resilience Shows as Its Other Businesses (Non-Telco India & Africa) Perform Well.