Operating Profitability & Cash GenerationHigh reported EBITDA margin (~49%) and sizable TTM free cash flow (~$2.05B) create durable internal funding for network build, Airtel Money scaling and debt reduction. Strong operating cash generation supports reinvestment and resilience across currency and macro cycles.
Airtel Money Scale And MarginsAirtel Money's large customer base and >$210B annualized TPV, combined with EBITDA margins above 50%, provide a high-margin digital payments engine. This drives durable monetization, cross-sell opportunities and diversification away from declining voice revenue, boosting long-term cash returns.
Network Investment With Disciplined CapExSustained, targeted capex (guidance $875–900m) and material network expansion (2,500 sites, >81,500km fiber) strengthen capacity and coverage. Durable infrastructure investment supports higher data ARPU, smartphone adoption and long-term competitive positioning in under‑penetrated markets.