Airtel-Backed Telecom Firm Announces First Dividend Post-IPO at ₹4/Share: A New Era for Coin Symbol

• Bharti Hexacom, a subsidiary of Bharti Airtel, has announced its Q4 results for fiscal 2023-24, marking its first earnings report since its IPO launch in April.
• The telecom giant has reported a 10% year-on-year rise in net profit for the March quarter, attributing this growth to strong customer additions and an increase in average revenue per user (ARPU).
• The board has also recommended a final dividend of Rs. 4 per fully paid-up equity share of face value Rs. 5 each for the financial year 2023-24.

Bharti Hexacom reports a 10% YoY rise in net profit in Q4 results, following its IPO launch in April. The board recommends a final dividend for FY 2023-24.

Bharti Hexacom Q4 Results

Bharti Hexacom reported a net profit of ₹223 crore for the March quarter, marking a 10.2% increase over the same period last year. The company’s total revenue for the quarter stood at ₹1,868 crore, up 7.8% YoY. The rise in revenue was primarily driven by a 6.8% YoY increase in mobile services revenues, which the company attributes to strong 4G/5G customer additions and an increase in ARPU.

Bharti Hexacom’s IPO and Stock Performance

The company’s IPO consisted only of an offer-for-sale (OFS) and did not include a fresh issue component. The IPO subscription opened for investors on April 3 and closed on April 5, with a price band set in the range of ₹542 to ₹570 per share. Bharti Hexacom’s share price debuted on the NSE at ₹755, marking a 32.5% premium over the issue price. By the end of the session, the listing gain was 42.7%.

Conclusion

Bharti Hexacom’s Q4 results and subsequent stock performance demonstrate the company’s strong market position and growth potential. With a continued focus on customer acquisition and service improvement, the company is poised for further growth in the coming fiscal year.