Bharti Hexacom shares in focus as firm gets approval to sell mobile towers for ₹1,134 crore; check details

In a business ecosystem, a “sister concern” refers to a company that is related to another company because both are owned, controlled, or managed by the same parent organisation, group, or promoters.

The Bharti Airtel group shared that its resolution "to approve material related party transactions with Indus Towers Limited, a related party" has been approved with 88.28% votes at the annual general meeting.

PTI, quoting sources, said the state-run Telecom Consultants of India (TCIL), which holds a 15% stake in the company, had opposed the deal, citing valuation issues.

According to the postal ballot notice of Bharti Hexacom dated February 14, as cited in the AGM report, a deal to sell its tower to Indus Towers was agreed upon for ₹1,134.1 crore.

The majority of shareholders approved the deal for Bharti Hexacom on March 16. The company, in an update on April 9, shared that TCIL had requested to start the process afresh as per its requirement.

The voting result published after the 30th AGM of the company on Wednesday to approve the proposal shows that the deal has been approved by a majority of shareholders.

However, around 2.5% of votes from public non-institution shareholders opposed the deal.

Bharti Hexacom Q1 FY26 Results

Bharti Hexacom reported around a 23% decline in net profit at ₹391.6 crore for the June quarter of 2025-26 (Q1 FY26), mainly on account of higher network operating expenses and government levies outgo.

In the year-ago period, the net profit was ₹511 crore, as per a regulatory filing.

The telecom operator's network operating expenses increased by about 12% to ₹522 crore from ₹467 crore in the June 2024 quarter.

The company's licence fee and spectrum charges increased by 22% to ₹211.4 crore from ₹173.4 crore a year ago. Revenue from operations increased 18.44% to ₹2,263 crore during the quarter from ₹1,910 crore a year ago.

Bharti Hexacom said its mobile revenues increased 17.8% YoY, driven by tariff repair and a focus on premiumising the portfolio.

"We saw strong ARPU growth, reaching ₹246 this quarter compared to ₹205 in the first quarter of 2025," the company said.