Bharti Airtel’s Q2 performance signals strong growth ahead, with ARPU rising to ₹256, a 48%+ EBITDA margin, and a revived Africa business boosting revenues. Geojit Investments’ Gaurang Shah expects ARPUs to touch ₹275–300 in the coming quarters and a possible tariff hikes by late 2025 could strengthen Airtel’s profitability and sector-wide earnings outlook.