Bharti Airtel Cash Flow Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	303,919	335,561	74,670	83,459	42,549	-150,835
Depreciation & Amortization	508,952	450,722	390,708	359,649	326,741	294,046
Other Amortization	4,981	4,981	4,668	4,669	4,166	-
Loss (Gain) From Sale of Assets	-1,031	-1,031	44	22	74	99
Asset Writedown & Restructuring Costs	-	-	-	-	3,810	8,920
Loss (Gain) From Sale of Investments	-2,971	-2,048	-2,645	-2,474	-1,067	-4,546
Loss (Gain) on Equity Investments	-37,030	-37,030	-27,094	-7,521	-24,232	-6,907
Stock-Based Compensation	1,669	1,669	1,194	1,115	776	708
Provision & Write-off of Bad Debts	3,741	3,741	4,278	5,664	3,048	-
Other Operating Activities	315,804	142,944	319,023	239,783	208,773	401,583
Change in Accounts Receivable	17,241	29,658	-14,941	-5,583	-7,131	-3,954
Change in Inventory	-1,416	-1,416	-771	-1,157	-1,181	-1,139
Change in Accounts Payable	29,875	8,586	6,398	12,671	-4,877	6,902
Change in Other Net Operating Assets	50,923	46,985	33,450	-37,051	-1,283	28,623
Operating Cash Flow	1,194,657	983,322	788,982	653,246	550,166	482,050
Operating Cash Flow Growth	32.76%	24.63%	20.78%	18.74%	14.13%	165.90%
Capital Expenditures	-428,687	-379,077	-381,915	-260,566	-265,406	-248,143
Sale of Property, Plant & Equipment	3,382	3,382	1,228	885	13,791	1,437
Cash Acquisitions	-	1,023	-6,428	-	-	-
Divestitures	-	-69	-	-	6,885	-
Sale (Purchase) of Intangibles	-81,231	-231,209	-140,147	-128,503	-173,027	-87,673
Investment in Securities	-68,115	-2,077	18,480	-20,118	-4,999	38,142
Other Investing Activities	6,380	5,329	6,743	17,500	4,060	27,353
Investing Cash Flow	-567,637	-602,698	-502,039	-390,802	-418,696	-268,884
Short-Term Debt Issued	-	36,927	15,516	-	63,649	-
Long-Term Debt Issued	-	235,597	67,123	136,077	254,785	327,276
Total Debt Issued	252,882	272,524	82,639	136,077	318,434	327,276
Short-Term Debt Repaid	-	-	-	-70,972	-	-35,659
Long-Term Debt Repaid	-	-250,132	-179,355	-254,213	-413,639	-473,985
Total Debt Repaid	-453,328	-250,132	-179,355	-325,185	-413,639	-509,644
Net Debt Issued (Repaid)	-200,446	22,392	-96,716	-189,108	-95,205	-182,368
Issuance of Common Stock	14	14	6	52,245	52,233	9
Repurchase of Common Stock	-1,379	-3,675	-1,368	-499	-598	-1,111
Common Dividends Paid	-112,709	-69,349	-41,845	-35,898	-14,438	-26,906
Other Financing Activities	-265,776	-314,714	-137,862	-71,435	-94,024	-38,727
Financing Cash Flow	-580,296	-365,332	-277,785	-244,695	-152,032	-249,103
Foreign Exchange Rate Adjustments	10,446	718	-8,851	-1,522	3,919	-3,972
Net Cash Flow	57,170	16,010	307	16,227	-16,643	-39,909
Free Cash Flow	765,970	604,245	407,067	392,680	284,760	233,907
Free Cash Flow Growth	45.39%	48.44%	3.66%	37.90%	21.74%	-
Free Cash Flow Margin	37.65%	34.93%	27.14%	28.22%	24.43%	23.10%
Free Cash Flow Per Share	127.39	100.85	69.76	68.55	51.04	42.68
Cash Interest Paid	126,910	175,476	140,263	66,893	131,588	71,294
Cash Income Tax Paid	64,938	44,380	28,806	37,915	21,754	22,328
Levered Free Cash Flow	468,255	125,875	88,921	201,977	-32,620	-70,622
Unlevered Free Cash Flow	589,967	235,964	188,645	291,324	50,194	7,049
Change in Working Capital	96,623	83,813	24,136	-31,120	-14,472	30,432

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.