Bharti Hexacom’s Q4 FY24 Results and Dividend Recommendation

Bharti Hexacom's Q4 FY24 Results and Dividend Recommendation/Mint

VoM News Desk | May 14, 2024 | 09:19 PM IST | Breaking News | Follow on Google News

Bharti Hexacom’s Q4 FY24 Results and Dividend Recommendation

Bharti Hexacom’s Q4 FY24 Results and Dividend Recommendation

Key Highlights:

1. Bharti Hexacom recommended a final dividend of Rs. 4 per fully paid-up equity share for the fiscal year 2023-24.
2. The telecom giant reported a 10.2% year-on-year rise in net profit for the March quarter, reaching ₹223 crore.
3. Strong customer additions and an increase in ARPU in mobile services drove revenue growth, which stood at ₹1,868 crore for the quarter.

Bharti Hexacom, a telecom provider operating in Rajasthan and the Northeast circles, announced its Q4 FY24 results alongside a dividend recommendation. The company recommended a final dividend of Rs. 4 per fully paid-up equity share for the fiscal year 2023-24, subject to shareholder approval at the Annual General Meeting.

In its Q4 FY24 earnings report, Bharti Hexacom posted a robust performance, with a net profit of ₹223 crore, marking a 10.2% year-on-year increase. This growth was fueled by strong customer additions and an uptick in Average Revenue Per User (ARPU) in mobile services. Total revenue for the quarter stood at ₹1,868 crore, reflecting a 7.8% increase over the same period last year.

The company highlighted significant strides in mobile services, with revenues up by 6.8% year-on-year, driven by substantial 4G/5G customer additions and improved ARPU. Notably, ARPU for the quarter reached ₹204 compared to ₹189 in Q4 FY23, showcasing sustained growth and focus on quality acquisitions.

Despite facing a challenging fiscal year, Bharti Hexacom maintained a resilient performance, reporting a net income of ₹504 crore for FY24, slightly lower than the previous fiscal year. However, revenues for the full year stood at ₹7,089 crore, up by 7.7% on a comparable basis, underlining the company’s ability to navigate market dynamics and drive sustainable growth.

With its IPO debut garnering substantial investor interest and a promising outlook for the future, Bharti Hexacom remains well-positioned to capitalize on emerging opportunities in the telecom sector. As the company continues to expand its footprint and enhance service offerings, it reaffirms its commitment to delivering value to shareholders and customers alike.

Source: Mint

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