Bharti Hexacom (BHARTIHEXA) Q3 24/25 earnings summary

Executive summary

• Announced transfer of 16,100 telecom towers (12,700 from Airtel, 3,400 from Hexacom) to Indus Towers to enhance efficiency and free up management bandwidth.

• Revenue from operations for the quarter ended December 31, 2024, was ₹22,507 million, up from ₹18,006 million in the same quarter last year.

• Net profit for the quarter was ₹2,609 million, compared to ₹2,127 million in the prior year quarter.

• Consistent quarter with consolidated revenues of INR 45,130 crores and strong India revenue growth (4.8% sequentially to over INR 33,000 crores, excluding Indus).

• Focused on ESG: expanded network to 89,000 villages, accelerated solarization, and impactful education initiatives.

Financial highlights

• EBITDA margin improved to 56.2%, up 1.4% sequentially.

• EBITDAaL for the quarter at INR 16,306 crores (49.3% margin).

• CapEx for the quarter was INR 6,860 crores; operating free cash flow (EBITDAaL minus CapEx) at INR 9,440 crores.

• EBITDA for the quarter was ₹11,967 million, up from ₹8,898 million year-over-year.

• Operating margin for the quarter was 27.6%, compared to 21.9% in the same quarter last year.

Outlook and guidance

• CapEx for the current year expected to be lower than FY '24, with further moderation into FY '26.

• Continued focus on disciplined CapEx, financial prudence, and deleveraging.

• ARPU in India remains lowest globally; further tariff repair needed for industry stability.

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