Suresh A Mahadevan, MD & Head of Indian Equities, UBS Securities sees Africa biz with optimism as a medium-term story yet, he is uncertain of a timeframe as to when it will turn profitable.
Over the last 5 quarters, Bharti Airtel's voice revenue per minute realisations have consistently increased over 8.8. percent along with a robust data consumption growth resulting in margin expansion. Given that Bharti Airtel 's India business continues to do exceptionally well, a rerating may be on the cards, says Suresh A Mahadevan, MD & Head of Indian Equities, UBS Securities in an interview with CNBC-TV18's Reema Tendulkar and Ekta Batra.
Bharti is commonly known as the tale of two cities wherein India is doing very well and Africa is a drag. In an interview today, Akhil Gupta, Vice Chairman, Bharti Enterprises said that capital allocation to Africa was the right decision as Africa investment is a unique asset . Although the turnaround has taken longer than expected, all the heavy lifting has been done and clearer signs of Africa biz turnaround will be seen by the end of this fiscal contributing massively to the company's return on equity (RoE).
On the other hand, Mahadevan sees Africa business with optimism as a medium-term story. Yet, he is uncertain of a timeframe as to when it will turn profitable.
Furthermore, he sees India to be a mobile 3G lead market with domestic wireless margins improving 50 bps Quarter-on-Quarter.
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Indian telcos' wireless margins can see 50bps QoQ rise: UBS
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