BHARTIARTL / Q1-FY25 / claim-ledger

Audit the questions that mattered.

Bharti Airtel · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ1-FY25 · 2024-08-07Back to quarter ↗

Questions audited

7

Answered directly

71%

Numeric claims

1

Consistency

contradicted

Question ledger

What was answered, and how?

Sanjesh Jain · Research desk

direct

Why did SG&A and other costs increase sequentially?

Well, in SG&A, there was a bit of one-off in the previous quarter, which has been a catch-up mostly. Also, with the broadband rollout, there was some one-time advertisement expenditure. These are the two primary reasons why SG&A is a little elevated.

Sanjesh Jain · Research desk

partial

What caused the working capital release of ₹445 crores?

Well, I think what led to this release is multiple levers being pushed, some collections being fast-tracked, and all of that. You can consider the current level to be reasonably a steady level of working capital.

Sanjesh Jain · Research desk

evasive

Is the current capex level representative for the full year?

See, quarterly, we would not like to say whether it is representative or not. But like it happened in our parent at a full year level, we should finally end with a capex which is lower than last year.

Vivekanand Subbaraman · Ambit

direct

Why is net revenue/gross revenue declining and access charges rising?

Bharti Hexacom Limited is the only player currently who does not have a Pan India presence, and hence we have access charges. You should look at access charges on an annualized basis because there are multiple seasonalities...

Vivekanand Subbaraman · Ambit

partial

What is the home market opportunity for Hexacom?

Well, Vivekanand, I would not have the numbers offhand with me to give you. But suffice to say, it should be lower than equal subset... I would say if it is 60 million, this number could be anywhere between 1-1.5 million in these two circles.

Kirtan Mehta · Research desk

direct

Will Hexacom focus on FWA for home broadband in its circles?

The way we are approaching it is we are saying Wi-Fi. When we lit up both wired connection as well as FWA, the feasibility goes up significantly. The pricing is same. The customer is actually agnostic...

Kirtan Mehta · Research desk

direct

How many of the 1,300 home pass cities are in Hexacom's circles?

We will be closer to about 100.

Kirtan Mehta · Research desk

direct

Why is net income down 24% YoY despite exceptionals?

I think it is primarily network cost. The 5G cost has come in. We have rolled out a lot many more new sites. ... a very, very sharp increase in network operating cost from about INR 348 crores to INR 467 crores.