Bharti Airtel share price falls over 2% after partnership with Apple

Shares of the company declined 2.39% at close, on the 50-share index, to close at ₹1,600 per share. It was among the top five biggest laggards on NIFTY50 index. During the intraday trade, Bharti Airtel shares were trading 2.01% down at ₹1,606.30 per share on the National Stock Exchange.

“This strategic partnership with Apple will allow Airtel customers to get exclusive access to premium, compelling drama and comedy series, feature films, groundbreaking documentaries, and kids and family entertainment. Additionally, Apple Music’s unmatched library across multiple languages, such as English, Hindi, and more, ensures an unparalleled audio experience,” Bharti Airtel said in a statement to exchanges.

According to the partnership plan, all home Wi-Fi customers on plans starting at ₹999 will get access to the captivating content of Apple TV+ with the option to stream content on multiple devices while on the move.

Additionally, postpaid customers on plans starting at ₹999 will get access to Apple TV+ and can enjoy 6 months of free Apple Music that features a vast catalogue of both Indian and global music.

Commenting on the partnership, Siddharth Sharma, chief marketing officer and CEO of Connected Homes, Bharti Airtel, said: “This collaboration offers an extraordinary opportunity to millions of our home Wi-Fi and postpaid customers, giving them access to Apple's premium content catalogue. We are confident that this partnership will redefine the content consumption landscape, setting a new standard for entertainment experiences amongst customers. Together, we aim to deliver a premium entertainment ecosystem for our valued customers.”

Meanwhile, the telecom major’s board on Friday had also approved raising the stakeholding in Airtel Africa by up to 5%.

Airtel Africa Mauritius Limited, which is a step-down subsidiary of Bharti Airtel, presently holds 57.29% of Airtel Africa plc. The said acquisition is being done to increase the stake in Airtel Africa plc, it said.

Bharti Airtel posted a 460.9% increase in its consolidated net profit to ₹16,134.6 crore for the third quarter of the current fiscal year (Q3 FY25), up from ₹2,876.4 crore reported in the year-ago period. The telecom major’s revenue from operations jumped to ₹45,129.3 crore for the reporting quarter, up 19.08% from ₹37,899.5 crore in Q3FY24.

The company’s consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at ₹24,880 crore, while the EBITDA margin was at 55.1%. Its consolidated net income (before exceptional items) grew by 121.3% to ₹5,514 crore.