Bharti Hexacom (BHARTIHEXA) Q3 24/25 earnings summary

Executive summary

• Revenue for Q3 FY25 reached INR 2,251 crores (₹22,507 million), up 7.3% sequentially and from ₹18,006 million year-over-year, with strong smartphone and net customer additions rebounding after tariff repair.

• EBITDA for the quarter was INR 1,194 crores (₹11,967 million), with margin at 53%; EBITDAaL margin at 46.3%.

• Net income for the quarter was INR 261 crores (₹2,609 million), and operating free cash flow stood at INR 758 crores.

• Net debt to EBITDA improved to 1.03, reflecting robust deleveraging.

• Announced transfer of 3,400 telecom towers (about 13% of footprint) to Indus Towers to enhance operational and financial efficiency.

Financial highlights

• Revenue grew 7.3% sequentially; ARPU increased 5.7% to INR 241; EBITDA margin rose by nearly 300 bps to 53%.

• EBITDA for the quarter was ₹11,967 million, up from ₹8,898 million year-over-year; operating margin at 27.6%.

• Net income at INR 261 crores (₹2,609 million); strong cash generation with operating free cash flow of INR 758 crores.

• Net debt to EBITDA at 1.03, with further improvement expected post-tower transaction.

• Basic and diluted EPS for the quarter was ₹5.22, up from ₹4.26 year-over-year.

Outlook and guidance

• FWA rollout will require additional CapEx, but overall CapEx increase expected to be marginal.

• Dividend payout is under positive consideration given strong balance sheet and cash inflow from tower sale.

• No explicit forward-looking guidance provided, but continued revenue and profit growth is indicated by year-over-year improvements.