Bharti Hexacom (BHARTIHEXA) Q4 24/25 earnings summary

Executive summary

• Delivered strong FY2025 results with consolidated revenues of INR 1,073,000 crore, supported by steadying Naira at year-end, and revenue from operations for the year ended March 31, 2025 was ₹85,479 million, up from ₹70,888 million year-over-year.

• EBITDA after FLO and lease obligations grew 21.2% year-over-year, with margin improvement of 2.3%.

• Net profit for the year was ₹14,936 million, a significant increase from ₹5,044 million in the previous year.

• India revenue and EBITDA (excluding Indus Towers) grew 15.3% and 20.2% year-over-year, respectively.

• The Board recommended a final dividend of ₹10 per equity share for FY 2024-25, subject to shareholder approval.

Financial highlights

• Q4 consolidated revenues at INR 47,876 crore, impacted by B2B segment decline as guided.

• EBITDA for the year was ₹43,790 million, up from ₹36,099 million year-over-year.

• Net cash generated from operating activities was ₹45,826 million, up from ₹35,461 million last year.

• Prepaid another INR 5,985 crore of high-cost DOT spectrum debt in Q4.

• Added 5 million revenue-earning mobile customers and 6.6 million smartphone data customers in Q4.

Outlook and guidance

• FY2026 CapEx expected to be lower than FY2025, with rural rollout substantially slowing down.

• The company has fully prepaid all deferred liabilities for spectrum acquired in the 2024 auction.

• Continued focus on future-proofing the business, digital services expansion, and prudent capital allocation.

• Tariff repair remains a key industry need for sustained financial health and investment.