Bharti Hexacom has announced its audited consolidated financial results for the fourth quarter ended (QE) and full year ended March 31, 2024.
The company posted over 10 per cent year-on-year (YoY) rise in net profit for the March quarter to Rs 2.23 billion on the back of strong customer additions and average revenue per user (ARPU) increase in mobile services. Meanwhile, the total revenue for the QE March stood at Rs 18.68 billion, up 7.8 per cent over the corresponding period a year earlier.
In addition, mobile services revenues grew 6.8 per cent YoY on account of improved realisation as well as strong 4G/5G customer additions during the year. ARPU for the quarter stood at Rs 204 as compared to Rs 189 in Q4 of the financial year 2022-23 (FY23) on the back of continued mix improvement and focus on quality acquisitions.
For the full year ended March 31, 2024, the net income (after exceptional items) came in at Rs 5.04 billion, which was 8.2 per cent lower than the previous fiscal year. Meanwhile, revenues stood at Rs 70.89 billion for the entire FY24, were up 7.7 per cent on a comparable basis.
According to the company, it rolled out about 830 towers in the quarter to further strengthen network coverage and provide seamless connectivity. Further, homes and office business maintained a rapid growth trajectory and delivered revenue growth of 26.6 per cent YoY, reflecting the outcome of the company’s strategy to rapidly expand cities under coverage and deepen presence in cities and towns.
