Airtel, Jio free cash flow seen rising amid falling capex spends, growing ARPU

Analysts predict Bharti Airtel's and Reliance Jio's free cash flows to rise in FY26, reaching approximately Rs 56,000 crore and Rs 38,500 crore, respectively. This growth stems from reduced capital expenditures and higher average revenue per user (ARPU). Both telcos expect a surge in ARPU driven by tariff hikes and increased data usage amid 5G deployments
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