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Informist, Monday, Aug. 3, 2026

 

By Shakshi Jain

 

NEW DELHI – Analysts are divided on the sequential net profit and revenue growth of Bharti Hexacom Ltd. for the June quarter. Two of the three brokerages, whose estimates are available with Informist, estimate a slight to marginal improvement in revenue for the reporting quarter on the back of new subscriber additions. At the same time, two of the three broking firms pegged a moderate decline in net profit for the three months.

 

The Bharti Airtel subsidiary is expected to post a net profit of INR 4.29 billion to INR 4.74 billion for the June quarter, according to estimates from three brokerages. The highest bottom line estimate is from Motilal Oswal Financial Services Ltd. and the lowest is from Elara Securities (India) Pvt. Ltd and JM Financial Institutional Securities Pvt. Ltd. 

 

The company's revenue for the quarter is expected to range between INR 23.32 billion and INR 24.91 billion, as per the estimates from three brokerages. The highest top line estimate is from JM Financial Institutional Securities and the lowest is from Elara Securities.

 

Bharti Hexacom had reported a net profit of INR 4.47 billion for the March quarter on revenue of INR 24.14 billion. 

 

Bharti Hexacom offers consumer mobile services, fixed-line telephone, and broadband services in Rajasthan and north-eastern states, including Manipur, Meghalaya, Mizoram, Nagaland, Tripura, and Arunachal Pradesh.

 

JM Financial and Motilal Oswal estimate the company's average revenue per customer likely improved to INR 256 for the June quarter from INR 252 for the March quarter. This is expected on the back of customer migration to higher generation network and one extra day in the quarter. JM Financial pegs healthy mobile broadband subscriber addition at 370,000 and net wireless subscriber gains at 250,000 for the June quarter.

 

Motilal Oswal has slightly more conservative estimates at 199,000 new wireless subscribers and 350,000 4G users for the quarter under review. "Homes broadband segment is also likely to witness healthy subs gains (~0.06mn subs addition QoQ)," JM Financial said. Bharti Hexacom had net added 370,000 mobile service subscribers in the March quarter.

 

The company's earnings before interest, tax, depreciation, and amortisation are expected to range between INR 12.16 billion and INR 12.87 billion for the June quarter, according to estimates from three brokerages. The highest EBITDA estimate is from Motilal Oswal and the lowest is from Elara Securities and JM Financial.

 

Brokerage Motilal Oswal estimates 1.6% sequential growth in EBITDA for the June quarter alongside a 25 basis point contraction in margin. Bharti Hexacom had reported EBITDA of INR 13.14 billion for the March quarter along with a margin of 54.4%.

 

Bharti Hexacom will announce its June-quarter results Tuesday. Monday, shares of the company closed 2.3% higher at INR 1,645.80 on the National Stock Exchange. The stock is up almost 11% since the company disclosed its March quarter results. The stock is also down nearly 16% from its 52-week high of INR 1,955.6, reached on Oct. 29. 

 

Of the five research reports on Bharti Hexacom available with Informist, four have a "buy" or equivalent recommendation on the stock and one has a "sell" call. The average target price for the "buy" recommendations is INR 1,939, nearly 18% higher than the current market price.

 

Following are the June quarter earnings estimates, in INR billion, for Bharti Hexacom from three brokerages in descending order of the net profit estimate:

 

Broking Firm	Net Sales	Net Profit	EBITDA
Motilal Oswal Financial Services Ltd.	24.64	4.74	12.87
Elara Securities (India) Pvt. Ltd.	23.32	4.29	12.16
JM Financial Institutional Securities Pvt. Ltd.	24.91	4.29	12.16

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Himanshi Gupta

 

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