Bharti Hexacom reports a 4% quarterly revenue increase supported by higher-value customers and steady demand for data, as it balances growth with profitability and network modernisation efforts amid fierce competition.
Bharti Hexacom said its first-quarter results were supported by steadier demand for data and a healthier mix of higher-value customers, even as competition remained intense in some of its markets. According to the company’s earnings-call highlights, revenue rose to INR2,510 crore in the quarter to June 2026, up 4% from the previous quarter, while EBITDA margin held at 48.2%. The operator also reported 344,000 smartphone customer additions and 75,000 net additions in its homes, office and other services business, which helped offset weaker mobile subscriber growth.
The figures suggest the group is still benefiting from ongoing premiumisation across its user base. The company said operating free cash flow was INR830 crore and net debt excluding leases stood at just 0.2 times EBITDA, leaving it with considerable financial flexibility. That balance-sheet strength matters as Bharti Hexacom continues to spend on 5G densification and wider network modernisation, both of which it says should lift service quality and future growth.
At the same time, management signalled that not every part of the business is expanding at the same pace. Mobile subscriber net additions were only 210,000 in the quarter, with seasonal patterns and competitive pressure in Rajasthan weighing on performance. The homes business also saw a deliberate slowdown in new additions as the company tightened acquisition quality. Executives said the shift away from aggressively priced fixed wireless access and towards fibre is intended to improve customer quality and long-term economics.
The latest quarter also came against a stronger recent base. ICICI Direct’s summary of the previous quarter showed revenue of INR2,263 crore, EBITDA margin of 53.8% and net debt excluding leases at 0.65 times EBITDAaL, underscoring how quickly the business has been scaling. Bharti Hexacom’s newer numbers point to continued growth, but also to the trade-off between expansion and profitability as the company invests in its network and adjusts its product mix.
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