More Stories

Informist, Tuesday, Feb. 3, 2026

By Shakshi Jain

NEW DELHI – Bharti Hexacom Ltd. is expected to post a high single-digit sequential growth in its bottom line for the December quarter, driven by a higher average revenue per user in its wireless business. The company's top line for the quarter is expected to grow sequentially by a low single-digit, helped by a rise in customers across both its business segments, according to analysts.

Bharti Hexacom's standalone net profit for the December quarter is expected to grow nearly 9% on quarter to INR 4.58 billion, according to the average of estimates from four brokerages. This would mean a growth of 25% on a year-on-year basis, after excluding the exceptional items the company had reported in the year-ago quarter.

In the year-ago quarter, Bharti Hexacom had reported a net loss of INR 1.06 billion due to an exceptional cost of INR 1.40 billion on account of regulatory levies.

The highest estimate for net profit for the December quarter is INR 4.99 billion by Emkay Global Financial Services Ltd. and the lowest is INR 4.29 billion by JM Financial.

The company's standalone revenue for the reporting quarter is expected to rise 2.6% sequentially and 5.7% on year to INR 23.78 billion, as per the average of estimates. The highest revenue estimate is INR 23.98 billion by ICICI Securities Ltd. and the lowest is INR 23.54 billion by JM Financial.

If Bharti Hexacom's results meet the consensus estimate of analysts, both the top line and bottom line growth for the December quarter would be higher than the trailing quarter on a quarter-on-quarter basis.

Bharti Hexacom is a subsidiary of Bharti Airtel Ltd. It provides consumer mobile services, fixed line telephone, and broadband services in Rajasthan and the north-eastern states, including Manipur, Meghalaya, Mizoram, Nagaland, Tripura, and Arunachal Pradesh. 

The company's revenue growth will be driven by the quarter-on-quarter rise in average revenue per user. The ARPU will rise due to continued upgrades and an improved subscriber-mix, according to JM Financial Institutional Securities Pvt. Ltd.

Motilal Oswal Financial Services Ltd. and JM Financial estimate the company's average revenue per user for the wireless business grew to INR 253 in the December quarter from INR 251 in the September quarter. They expect revenue from the wireless business to grow 0.9% and 1.3%, respectively, on a sequential basis.

In the September quarter, the company's mobile services vertical had contributed INR 22.39 billion to its overall top line.

JM Financial said the home broadband segment is likely to report an addition of around 60,000 subscribers for the December quarter while the company's mobile broadband subscribers may rise by 470,000.

In the September quarter, Bharti Hexacom's homes and office businesses had net added 60,000 customers while the company's smartphone data customers had increased by 1.6 million.

The company's standalone earnings before interest, tax, depreciation, and amortisation for the December quarter are expected to grow 0.6% sequentially and almost 6% on year to INR 12.63 billion, according to the average of estimates. The highest EBITDA estimate is INR 12.84 billion by JM Financial and the lowest is INR 12.41 billion by ICICI Securities.

The mild sequential growth in Bharti Hexacom's EBITDA for the reporting quarter is expected on the back of seasonal variations in roaming patterns, brokerages said.

Bharti Hexacom had reported a net profit of INR 4.21 billion for the September quarter on revenues of INR 23.17 billion. In the year-ago quarter, the company had recorded an adjusted net profit of INR 3.67 billion on revenues of INR 22.51 billion. The company will announce its December quarter earnings Thursday.

On Tuesday, shares of Bharti Hexacom ended 3.3% higher at INR 1,636.60 on the National Stock Exchange. The stock is down more than 12% since the company reported its results for the September quarter. It is down over 20% from its 52-week high of INR 2,052.9, recorded on Jul. 1.

Of the four research recommendations on Bharti Hexacom available with Informist, three have a 'buy' recommendation on the stock and one has a 'hold' recommendation. The average target price of the 'buy' recommendations is INR 2,088. This is nearly 28% higher than the current market price.

Following are the Oct-Dec earnings estimates for Bharti Hexacom from four brokerages in descending order of the estimate of net profit in INR billion:

End

Edited by Ashish Shirke

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.