Bharti Hexacom share price target: Jefferies maintains 'buy' call, sees a 33% upside post good Q4 nos

Bharti Hexacom share price, Bharti Hexacom share priice target, Bharti Hexacom Q4 results: Shares of Bharti Hexacom on Wednesday, May 15 jumped nearly six per cent, a day after Bharti Airtel's arm reported its March quarter earnings report following a target raise by global brokerage Jefferies. The Bharti Hexacom stock rose as much as 6.9 per cent to the day's high of Rs 962 on NSE. The stock closed at Rs 958, up 6.48 per cent on NSE. 

Bharti Hexacom Q4 results

On Tuesday, post market hours, Bharti Hexacom, which offers consumer mobile services, fixed-line telephone, and broadband services in Rajasthan and the Northeast circles,  posted over 10 per cent year-on-year rise in net profit for the March quarter to Rs 223 crore, on the back of strong customer additions and ARPU increase in mobile services. 

The total revenue for the March quarter stood at Rs 1,868 crore, up 7.8 per cent over the corresponding period a year earlier.

Bharti Hexacom posted a net profit of Rs 223 crore for the March quarter, up 10.2 per cent over the year-ago period.

Mobile services revenues were up 6.8 per cent year-on-year, led by strong 4G/5G customer additions and an increase in average revenue per user (ARPU), the company said.

"We continue to garner a strong market share of 4G/5G customers and added 2.5 million 4G/5G data customers to our network over last year, an increase of 14.5 per cent year on year. We continue to deliver industry-leading ARPU along with growing average data usage per data customer at 24.5 GBs/month," the company said. Read more Bharti Hexacom Q4 results

Bharti Hexacom dividend

The board has recommended a final dividend of Rs 4 per fully paid-up equity share of face value of Rs 5 each.

Bharti Hexacom share price target: Jefferies sees a 33% upside move

Jefferies has maintained a buy call on Bharti Hexacom. The brokerage has raised the target to Rs 1,200 apiece from Rs 1,080. The revised target implies an upside potential of 33 per cent from the previous close. 

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