iWorld
Airtel rings up big numbers but the bill is getting heavier
MUMBAI: When the phone keeps ringing, the challenge is not answering the call, it’s paying for it. Bharti Airtel’s consolidated results for the quarter ended December 31, 2025 show a business still growing at scale, but one increasingly weighed down by rising costs, taxes and balance-sheet pressures.
The telecom major reported consolidated revenue of Rs 53,982 crore for the December quarter, up from Rs 45,129 crore a year earlier, driven by steady growth in India mobile services and a sharp acceleration in Africa. For the nine months ended December 2025, revenue climbed to Rs 1,55,528 crore, compared with Rs 1,25,109 crore in the corresponding period last year.
Operating momentum, however, told a more nuanced story. Profit before depreciation, amortisation, finance costs and tax stood at Rs 23,199 crore in the quarter, while rising depreciation (Rs 13,420 crore) and finance costs (Rs 5,623 crore) continued to eat into the bottom line. Profit before tax for the quarter came in at Rs 12,301 crore, down from Rs 16,892 crore in the same quarter last year, reflecting the combined impact of higher costs and exceptional items.
After accounting for taxes of Rs 3,796 crore, Airtel posted a profit of Rs 8,503 crore for the quarter, compared with Rs 6,631 crore a year ago. For the nine-month period, profit after tax rose to Rs 27,696 crore, up from Rs 21,000 crore last year, aided by operational leverage and strong overseas performance.
Africa emerged as a standout engine. Mobile services Africa generated Rs 15,010 crore in quarterly revenue, up from Rs 10,703 crore a year earlier, while segment profit nearly doubled to Rs 5,070 crore, underscoring the region’s growing importance to Airtel’s overall growth narrative.
India mobile services remained the group’s largest contributor, clocking Rs 28,652 crore in revenue for the quarter, with segment profit of Rs 9,091 crore, supported by higher data usage and premium customer additions. Airtel Business delivered Rs 5,353 crore in revenue, while homes services broadband and DTH contributed Rs 2,001 crore, reflecting steady but slower expansion.
The balance sheet, though, shows the cost of scale. Total consolidated assets stood at Rs 5,29,406 crore as of December 31, 2025, while total liabilities were Rs 3,60,393 crore, keeping leverage firmly in focus. Finance costs for the nine-month period rose to Rs 14,839 crore, highlighting the ongoing burden of network investments and spectrum obligations.
Earnings per share for the December quarter stood at Rs 11.44, down from Rs 11.72 a year earlier, while nine-month EPS came in at Rs 33.42.
The takeaway is clear. Airtel is still dialling up growth especially beyond India but sustaining profitability is becoming a tougher call. As network investments, spectrum costs and taxes stack up, the next phase will test whether revenue growth can keep ringing louder than the costs chasing it.
iWorld
Netflix cuts jobs in product division amid restructuring
Layoffs hit creative studio unit as leadership and strategy shifts unfold.
MUMBAI: The streaming wars may be fought on screen, but the latest plot twist is unfolding behind the scenes. Netflix has reportedly begun laying off several dozen employees from its product division as part of an internal reorganisation, according to a report by Variety. The cuts are believed to have primarily affected the company’s creative studio unit, which works on marketing assets such as in app trailers, promotional visuals and live experience content for the streaming platform.
The company has not disclosed the exact number of employees impacted.
According to the report, the layoffs were not tied to employee performance. Instead, the restructuring eliminated certain roles while other employees were reassigned to different teams within the organisation.
The roles affected are understood to include designers, producers and creative specialists responsible for marketing and brand experience initiatives.
The job cuts come as Netflix adjusts its leadership structure and reshapes its product and creative teams. Last month, Elizabeth Stone was promoted from chief technology officer to chief product and technology officer, giving her oversight of product, engineering and data operations across the company.
Earlier, in December 2025, Netflix also appointed Martin Rose as head of creative for global brand and partnerships, a move seen as part of a broader restructuring of the company’s brand and product functions.
Despite the layoffs, Netflix remains one of the largest employers in the streaming sector. The company is estimated to employ around 16,000 people globally, with roughly 70 percent of its workforce based in the United States and Canada. In 2023, the company reported approximately 13,000 employees, indicating that its headcount had grown significantly before the latest restructuring.
The workforce changes arrive at a time when Netflix is navigating a shifting financial and strategic landscape in the global entertainment industry.
The streaming giant recently secured $2.8 billion in additional cash after receiving a breakup fee from Paramount Skydance following its withdrawal from a deal involving Warner Bros. Discovery.
Speaking to Bloomberg, Netflix co chief executive Ted Sarandos explained that the company had evaluated multiple scenarios during the negotiations but chose not to match the competing offer once it learned that a higher bid had been submitted.
Netflix had capped its offer at $27.75 per share and ultimately stepped back rather than pursue Paramount’s $111 billion acquisition deal, which included a personal guarantee.
Sarandos also cautioned that the financing structure behind the Paramount Skydance transaction could have ripple effects across the entertainment industry.
According to him, the debt heavy deal could trigger significant cost cutting, with David Ellison, chief executive of Paramount Skydance, expected to eliminate about $16 billion in costs and potentially cut thousands of jobs as part of the integration process.
For Netflix, the current restructuring appears to be part of a broader attempt to streamline operations while continuing to invest in product, technology and global content even as the streaming industry enters a new phase of consolidation and financial discipline.
