Bharti Hexacom (BHARTIHEXA) Q2 25/26 earnings summary

Executive summary

• Delivered another consistent quarter with consolidated revenues of INR 52,000 crore and an annualized run rate exceeding INR 200,000 crore.

• Revenue from operations for Q2 FY26 was ₹23,173 million, up 10.5% year-over-year and 2.4% sequentially.

• Net profit for Q2 FY26 stood at ₹4,212 million, a 66.5% increase year-over-year and 7.6% sequentially.

• Strong performance across mobile, broadband, and B2B segments, with continued network expansion and digital innovation.

• Focused on premiumization, convergence, and digital transformation, leveraging AI and partnerships for future growth.

Financial highlights

• India revenues (excluding Indus Towers) at INR 34,900 crore; EBITDA margin at 51.5%.

• EBITDA for Q2 FY26 was ₹12,693 million, up from ₹10,510 million in Q2 FY25.

• Operating free cash flow at INR 10,750 crore; CapEx for the quarter at INR 7,200 crore.

• Operating margin for Q2 FY26 was 28.2%, up from 22.2% in Q2 FY25.

• Digital revenues up 24% year-over-year; Payments Bank monthly transacting users at 104 million.

Outlook and guidance

• Continued investment in digital infrastructure, data centers, and AI-driven platforms to future-proof operations.

• Home broadband market expected to grow to 100 million connected homes in the medium term; aggressive expansion planned.

• CapEx on homes and 5G built into guidance; data center investments may see a moderate bump-up.

• Management and auditors confirm the company is a going concern with no material uncertainties disclosed.