Bharti Hexacom Ltd
Bharti Hexacom Ltd Q2 FY26 Results & Concall Highlights: Revenue ₹2,317 Cr
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
In Q2 FY2025, Bharti Airtel reported consistent revenue growth, with mobile revenue growing about 2.1% sequentially and overall revenue at Rs.2,317 Crores growing 2.4% sequentially. Revenue growth is expected to continue with positive momentum in Q3 after a seasonal dip in Q2.
From Bharti Hexacom Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- In Q2 FY2025, Bharti Airtel reported consistent revenue growth, with mobile revenue growing about 2.1% sequentially and overall revenue at Rs.2,317 Crores growing 2.4% sequentially.
- The homes broadband business shows strong momentum, with record net additions (60,000 in Q2, the highest ever) and plans to accelerate fiber home pass deployment and Fixed Wireless Access (FWA) expansion; the industry is expected to grow to about 100 million homes over the medium term from current 50 million.
- Airtel is focusing on upgrading 90 million credit-scored customers to postpaid services, aiding data monetization and ARPU growth.
- Digital revenues grew strongly at 24% year-on-year, and Airtel Finance shows solid momentum increasing loan disbursements.
- Airtel aims to increase cross-selling and convergence across mobile, broadband, and other digital services to drive incremental revenue.
- The B2B segment anticipates growth opportunities through connectivity, data centers, and adjacencies, including stepped-up investments in data centers.
- 5G user base growth continues, with 167 million users, and expanding affordable handsets expected to accelerate adoption.
Profitability & Margins
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Capital Expenditure Plans
- Capex trajectory is expected to moderate over time on an annualized basis, despite quarterly fluctuations due to execution, weather, and prioritization factors (Soumen Ray, Page 16).
- Capex on homes is small; it primarily involves routers leveraging existing fiber infrastructure, with a focus on acquiring customers during the land grab phase (Gopal Vittal, Page 13).
- No meaningful capex is required for 5G standalone rollout as networks are software-upgradable; a small amount for software is expected (Gopal Vittal, Page 10).
- Data center investments through Nxtra are set to increase; Airtel plans to step up investment to build market share, including the Rs. 1500 Crores annual investment baseline; partnership with Google includes data center build-out, cable landing stations, and fiber network (Gopal Vittal, Piyush Choudhary Q&A, Pages 6-8).
- Airtel has taken enabling provision to increase its stake in Indus Towers by 5%, indicating possible future capital allocation there (Gopal Vittal, Page 9).
- Overall capex guidance remains moderation, with data center investment as a potential area for incremental spending (Pages 10,16).
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- During the quarter, Bharti Airtel's Global business showed signs of improvement with growth in the order book and an improved funnel.
- The company signed multiple connectivity deals with marquee global customers.
- In adjacencies such as Cybersecurity and IoT, Airtel secured new contracts, including a multi-year contract with the Indian Railways Security Operations Center for comprehensive security services.
- Airtel is actively scaling its digital portfolio across Cloud, Cybersecurity, Financial Services, IoT, and CPaaS, indicating ongoing and upcoming business engagements.
- Although exact order book values are not specified, the mentioned growth and deal signings reflect a healthy and expanding order book position.
Bharti Hexacom Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹2.4K Cr, net profit ₹447 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Bharti Hexacom Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Bharti Hexacom Ltd Q2 FY26 results?
In Q2 FY2025, Bharti Airtel reported consistent revenue growth, with mobile revenue growing about 2.1% sequentially and overall revenue at Rs.2,317 Crores growing 2.4% sequentially. Revenue growth is expected to continue with positive momentum in Q3 after a seasonal dip in Q2.
What is Bharti Hexacom Ltd share price analysis?
Bharti Hexacom Ltd currently shows a neutral. The stock trades at a P/E of 43.9 with a market cap of ₹81,055 Cr. Investors should review the full earnings analysis for detailed insights.
Is Bharti Hexacom Ltd planning capital expenditure?
Capex trajectory is expected to moderate over time on an annualized basis, despite quarterly fluctuations due to execution, weather, and prioritization factors (Soumen Ray, Page 16). - Capex on homes is small; it primarily involves routers leveraging existing fiber infrastructure, with a focus on acquiring customers during the land grab phase (Gopal Vittal, Page 13). - No meaningful capex is required for 5G standalone rollout as networks are software-upgradable; a small amount for software is expected (Gopal Vittal, Page 10). - Data center investments through Nxtra are set to increase; Airtel plans to step up investment to build market share, including the Rs.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.