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Airtel’s India mobile business EBITDA can potentially increase by 15-20 per cent in FY20, says Fitch

June 21, 2019
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According to Fitch Ratings, Bharti Airtel’s India mobile business EBITDA can potentially increase by 15-20 per cent in financial year (FY) 2019-20, driven by strong growth in data usage and higher blended ARPU.

Further, the company is expected to pump in around Rs 280 billion of capex to bolster 4G networks and fibre infrastructure during the year.

As per Fitch, Airtel’s long-term foreign currency issuer default rating (IDR) and senior unsecured rating was stable at BBB-.

In addition, Fitch estimates Airtel’s funds flow from operations (FFO) adjusted net leverage will improve from 2.4x in FY 2018-19 to 2.1x-2.3x in FY 2019-20. This is excluding the $6.1 billion in deferred spectrum costs, helped by Bharti’s $3.5 billion funds raise via a mega rights issue.

 

 
 
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