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HomeNewsBusinessBharti Hexacom swings to black in Q2, net profit at Rs 253 crore

Bharti Hexacom swings to black in Q2, net profit at Rs 253 crore

Mobile revenues grew by 20.0 percent year-on-year, led by tariff repair and the company’s strategy to focus on portfolio premiumisation with quality customers

October 28, 2024 / 16:13 IST
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    Bharti Hexacom reported a net profit of Rs 253 crore for the September quarter against a loss of Rs 184 crore in the same period last year. The growth was led by tariff repair, which pushed up ARPU increase and smartphone additions.

    Sequentially, the profit declined 50.5 percent, the company said on October 28.

    Revenue came in at Rs 2,098 crore, up 20.7 percent from the year-ago period.

    Mobile revenue grew 20 percent year-on-year, led by tariff repair and the company’s strategy to focus on portfolio premiumisation with quality customers, it said in a statement.

    Average revenue per user (ARPU) was at Rs 228, up from Rs 196 last year.

    Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 21.8 percent YoY to Rs 1,046 crore. The EBITDA margin improved to 49.9 percent from 49.4 percent. EBIT increased 19.5 percent YoY to Rs 510 crore.

    At 1,524 PBs, mobile data traffic grew 29.7 percent on-year.

    Bharti Hexacom offers consumer mobile services, fixed-line telephone and broadband services under the brand Airtel to customers in the Rajasthan and the Northeast telecommunication circles, which comprises Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland and Tripura.

    The company added 2.1 million smartphone data customers to its network over the year, an increase of 11.3 percent.

    Bharti Hexacom also rolled out 200 network towers and 407 mobile broadband base stations in the quarter to further strengthen its coverage and provide seamless connectivity. It deployed additional 15 megahertz of spectrum that it purchased in June 2024.

    The Bharti Hexacom stock ended the day at Rs 1,459.50 on the National Stock Exchange, up 2.34 percent from the previous close.

    first published: Oct 28, 2024 03:56 pm

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