Financials
Bharti Hexacom Q2 boasts 20.7 per cent revenue surge and data growth
Mumbai: Imagine a day without the internet—no streaming the latest movies, no WhatsApp pings from friends, no emails to explain running late to the boss. Digital silence. Yet, as our lives entwine ever more with digital connectivity, Bharti Hexacom emerges as a robust architect of India’s digital future. In Q2 FY25, the telecom powerhouse posted an impressive 20.7 per cent year-on-year revenue jump, reaching Rs 20,976 million. Fueled by strategic expansions in mobile and broadband, Bharti Hexacom shows unyielding momentum. With mobile data usage surging 29.7 per cent, and bolstered by solid infrastructure investments, the company signals a steadfast commitment to enhancing the nation’s digital ecosystem.
The quarter’s revenue growth was propelled by Bharti Hexacom’s core mobile services, which registered a substantial 20 per cent year-on-year increase, reaching Rs 20,433 million. This growth trajectory was bolstered by ‘tariff repair’ initiatives and a strategic focus on acquiring quality customers, leading to an Average Revenue Per User (ARPU) increase to Rs 228, a 16.3 per cent rise from Rs 196 in Q2 FY24. Homes and Office services also saw revenue growth, up by 19.8 per cent YoY, with net customer additions reaching an impressive 30,000, marking the highest quarterly growth in this segment.
The company’s EBITDA rose by 21.8 per cent YoY to Rs 10,464 million, supported by the operational efficiency initiatives that helped to widen EBITDA margins to 49.9 per cent from 49.4 per cent last year. However, EBIT margin slightly contracted by 24 basis points to 24.3 per cent amid escalating competition and increased operational costs. Net income, a noteworthy figure, reached Rs 2,531 million—transforming a year-over-year loss into a profitable position and reflecting a robust 237 per cent growth after accounting for exceptional items.
Bharti Hexacom’s capital expenditure of Rs 4,465 million in Q2 FY25 has enabled the rollout of over 200 network towers and 407 mobile broadband stations, primarily across Rajasthan and the North East. This investment complements the recent acquisition of an additional 15 MHz spectrum, allowing for enhanced connectivity and user experience. Bharti Hexacom’s pioneering AI-driven spam detection tool—India’s first by a telecom provider—was also launched this quarter to improve customer satisfaction.
Mobile data consumption demonstrated a robust year-over-year growth of 29.7 per cent, reaching 1,524 PB, driven by a rise in smartphone users, which grew by 11.3 per cent YoY. The segment saw significant usage, with data consumption averaging 25.9 GB per user per month, reinforcing Hexacom’s position as a digital leader amid rising demand for mobile data.
The Homes and Office services unit continues its growth trajectory, expanding high-speed broadband services to 103 cities and leveraging partnerships with local cable operators to reach a wider base. This strategic extension allowed the segment to achieve a 20 per cent revenue increase year-over-year, with 30,000 new customer additions in the last quarter. ARPU for home broadband stabilised at Rs 509, a reflection of steady demand despite sectoral pricing adjustments.
The current Debt-to-EBITDA ratio, including lease impacts, stands at 2.03x, a favourable metric within the industry. Hexacom’s judicious capital allocation and a focus on cost optimisation underpin its positive cash flow, which saw a 123 per cent increase YoY, reaching Rs 5,999 million. As Bharti Hexacom prepares for further digital transformation, these metrics reflect a strong financial foundation poised for sustained growth.
Bharti Hexacom’s Q2 FY25 performance embodies a strategic blend of innovation, investment, and customer-centric expansion. By focusing on both mobile and broadband sectors, the company has effectively harnessed India’s digital demand surge. Going forward, Hexacom’s robust infrastructure, innovative digital solutions, and a steady financial strategy are expected to maintain its momentum in India’s competitive telecom sector.
MUMBAI: It’s time to brief the markets: Page Industries is showing that even when regulations tighten, it can still keep its footing in the innerwear business. The Bengaluru-based apparel major has reported its financials for the quarter ended 31 December 2025, delivering a performance that remains steady and well put together.
The company’s top line showed plenty of elasticity this quarter. Revenue from operations stretched to Rs 1,38,675.71 lakhs, a healthy jump from the Rs 1,29,085.82 lakhs reported in the preceding quarter. Compared to the same period last year, which stood at Rs 1,31,305.10 lakhs, it’s clear the brand’s grip on the market isn’t loosening. Total income for the quarter, including other finance gains, reached a comfortable Rs 1,39,919.03 lakhs.
However, it wasn’t all smooth silk. The Government of India’s new unified Labour Codes, covering everything from wages to social security, officially kicked in on 21 November 2025. This regulatory shift forced Page Industries to account for a one-time “exceptional item” cost of Rs 3,500.42 lakhs to cover incremental employee benefits and related obligations. Despite this Rs 35-crore legislative snag, the underlying business remained robust. Profit before tax stood at Rs 25,625.35 lakhs after the exceptional hit, and without that one-off cost, the figure would have been a more muscular Rs 29,125.77 lakhs. Net profit for the quarter came in at Rs 18,953.64 lakhs.
Total expenses rose to Rs 1,10,793.26 lakhs, driven largely by raw material consumption of Rs 30,162.65 lakhs and employee benefits of Rs 23,310.66 lakhs. Even so, the company’s operational strength ensured the bottom line remained firmly stitched together.
For shareholders, the news is particularly “fitting.” The Board has declared a third interim dividend for 2025-26 of Rs 125 per equity share. The record date has been set for 11 February 2026, with the payment scheduled on or before 6 March 2026. This follows two previous interim dividends of Rs 150 and Rs 125 declared earlier in the financial year, reinforcing the company’s commitment to sharing the spoils of its success.
Looking at the nine-month stretch ending December 2025, Page Industries has amassed total income of Rs 4,04,090.59 lakhs, with total comprehensive income of Rs 58,231.49 lakhs. While the basic earnings per share for the quarter dipped slightly to Rs 169.93, compared to Rs 183.48 in the same quarter last year, the year-to-date EPS remains a solid Rs 524.57.
Auditors at S.R. Batliboi & Associates LLP have given the results a “limited review” thumbs up, reporting no material misstatements. It seems that, as far as Page Industries is concerned, the business remains as well-constructed as its famous Jockey briefs.
