Bharti Hexacom (BHARTIHEXA) Q1 24/25 earnings summary

Executive summary

• Revenue for Q1 FY25 reached INR 1,911 crore (₹19,106 million), up 2.3% sequentially and year-over-year, with broad-based growth across segments.

• Net profit for the quarter was INR 511 crore (₹5,112 million), significantly higher year-over-year, aided by an exceptional gain of ₹3,183 million from a Supreme Court judgment.

• EBITDA stood at INR 912 crore (₹9,157 million) with a margin close to 48%.

• The company completed its IPO, listing 75 million shares and raising ₹42,750 million.

• Spectrum purchase of 15 MHz in sub-gigahertz and mid-band for INR 1,000 crore (₹10,010 million); full impact of 5G spectrum costs reflected in this quarter.

Financial highlights

• Revenue grew 2.3% sequentially to INR 1,911 crore (₹19,106 million).

• EBITDA margin was close to 48%, with EBITDA at INR 912 crore (₹9,157 million).

• Net income for the quarter was INR 511 crore (₹5,112 million), with net profit margin rising to 26.8%.

• Operating free cash flow was INR 594 crore; CapEx for the quarter was INR 370 crore, 16.6% of revenue.

• Earnings per share for the quarter stood at ₹10.22, up from ₹4.45 year-over-year.

Outlook and guidance

• CapEx for the year is expected to be lower than the previous year.

• Tariff increases are anticipated to flow through over the next two quarters, supporting revenue and margin growth.

• Aggressive focus on broadband, especially FWA, to further diversify the business portfolio.

• Acquired 15 MHz spectrum in multiple bands for ₹10,010 million, securing capacity for 20 years.