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<\/span><\/figcaption><\/figure>Kolkata: Fitch<\/a> Ratings has revised the outlook on Bharti Airtel<\/a>’s long-term foreign-currency (FC) Issuer Default Rating (IDR) to `Stable' from `Negative,' and affirmed the FC-IDR and senior unsecured bond rating at 'BBB-'.

The global ratings agency has also affirmed Dutch arm, Bharti Airtel International<\/a> (Netherlands) B.V.'s senior unsecured guaranteed bonds at 'BBB-' and Mauritius-based arm, Network i2i’s subordinated perpetual bonds at 'BB'.

The stable outlook follows the revision in the `outlook’ on India's Long-Term Foreign- and Local-Currency IDRs to `stable’ from `negative’ on June 10, 2022, the global ratings agency said Tuesday.

Fitch said Bharti's FC ratings are not directly constrained by India's sovereign rating, but cannot exceed the country ceiling (BBB-), which reflects the transfer and convertibility risks associated with FC obligations.

The Sunil Mittal-led telco posted consolidated net profit at Rs 2,007.8 crore in the March quarter, also up 141% sequentially. This was Airtel’s sixth successive quarter in the black. Among the Big 3 telcos, it clocked the highest ARPU growth in the March quarter – rising to Rs 178 from Rs 163 in the quarter to December. By comparison, Reliance Jio<\/a> and loss-making Vodafone Idea had reported an ARPUs of Rs 167.6 and Rs124, respectively.

The global ratings agency expects the group's revenue and operating income to increase by 12%-13% and 14%-15%, respectively, in FY23 on continued improvement in the Indian wireless market and strong growth in the African markets. It also estimates Airtel’s Indian wireless segment's FY23 Ebitda will increase by 15%-20% on 15 million subscriber adds and monthly average revenue per user (ARPU) growth of 10%-15%.

“We expect (Airtel’s) 4G subscribers to increase by 3-to-5 million each quarter, from 201 million at end-March 2022,” Fitch said in a statement Tuesday. Its 4G subscribers increased by 12% in FY22 to form 64% of the subscriber base, while average monthly data consumption per user rose by 14% to 19GB.

Bharti generates most of its cash flows from India, while its cash generation outside India from countries rated above 'B+' cannot cover its hard-currency debt servicing requirements.

\"Airtel,<\/a><\/figure>

Airtel, Jio gain RMS in Jan-Mar, Vodafone Idea stagnant: Analysts<\/a><\/h2>

Cash-strapped Vodafone Idea’s RMS, though, was stagnant in the fiscal fourth quarter despite the price hikes, underlining its inability to compete effectively with its financially-stronger rivals, say analysts.<\/p><\/div>

\"\"
<\/span><\/figcaption><\/figure>Kolkata: Fitch<\/a> Ratings has revised the outlook on Bharti Airtel<\/a>’s long-term foreign-currency (FC) Issuer Default Rating (IDR) to `Stable' from `Negative,' and affirmed the FC-IDR and senior unsecured bond rating at 'BBB-'.

The global ratings agency has also affirmed Dutch arm, Bharti Airtel International<\/a> (Netherlands) B.V.'s senior unsecured guaranteed bonds at 'BBB-' and Mauritius-based arm, Network i2i’s subordinated perpetual bonds at 'BB'.

The stable outlook follows the revision in the `outlook’ on India's Long-Term Foreign- and Local-Currency IDRs to `stable’ from `negative’ on June 10, 2022, the global ratings agency said Tuesday.

Fitch said Bharti's FC ratings are not directly constrained by India's sovereign rating, but cannot exceed the country ceiling (BBB-), which reflects the transfer and convertibility risks associated with FC obligations.

The Sunil Mittal-led telco posted consolidated net profit at Rs 2,007.8 crore in the March quarter, also up 141% sequentially. This was Airtel’s sixth successive quarter in the black. Among the Big 3 telcos, it clocked the highest ARPU growth in the March quarter – rising to Rs 178 from Rs 163 in the quarter to December. By comparison, Reliance Jio<\/a> and loss-making Vodafone Idea had reported an ARPUs of Rs 167.6 and Rs124, respectively.

The global ratings agency expects the group's revenue and operating income to increase by 12%-13% and 14%-15%, respectively, in FY23 on continued improvement in the Indian wireless market and strong growth in the African markets. It also estimates Airtel’s Indian wireless segment's FY23 Ebitda will increase by 15%-20% on 15 million subscriber adds and monthly average revenue per user (ARPU) growth of 10%-15%.

“We expect (Airtel’s) 4G subscribers to increase by 3-to-5 million each quarter, from 201 million at end-March 2022,” Fitch said in a statement Tuesday. Its 4G subscribers increased by 12% in FY22 to form 64% of the subscriber base, while average monthly data consumption per user rose by 14% to 19GB.

Bharti generates most of its cash flows from India, while its cash generation outside India from countries rated above 'B+' cannot cover its hard-currency debt servicing requirements.

\"Airtel,<\/a><\/figure>

Airtel, Jio gain RMS in Jan-Mar, Vodafone Idea stagnant: Analysts<\/a><\/h2>

Cash-strapped Vodafone Idea’s RMS, though, was stagnant in the fiscal fourth quarter despite the price hikes, underlining its inability to compete effectively with its financially-stronger rivals, say analysts.<\/p><\/div>