Bharti Hexacom announced a significant leadership transition in its finance department, with the Board of Directors approving the appointment of Karthikeyan Velu as Chief Financial Officer and Key Managerial Personnel effective January 1, 2026. The decision was made during a board meeting held on December 18, 2025, following recommendations from both the Nomination and Remuneration Committee and Audit Committee.

Leadership Transition Details

The appointment comes as current CFO Akhil Garg submitted his resignation due to organizational movement within the Bharti Group. Garg's tenure as Chief Financial Officer and Key Managerial Personnel will conclude on December 31, 2025, at the closure of working hours, ensuring a seamless transition to the new leadership.

New CFO Profile and Experience

Karthikeyan Velu brings extensive experience to his new role as a seasoned telecom finance leader with over two decades in the industry. His career combines deep domain expertise with strong business partnering experience across multiple functional areas within the telecommunications sector.

Velu's professional background includes diverse roles across Circle commercial operations, Shared Services, Revenue Assurance, and Category commercial functions. Most recently, he served as B2C Controller, overseeing commercial operations across all circles and partnering with leadership teams responsible for the Consumer Business. He currently holds the position of Group Financial Controller for Airtel.

Educational Background and Career Journey

The incoming CFO holds strong academic credentials with a Master's in Business Administration specializing in Finance and a Bachelor's degree in Engineering. Velu's association with the Airtel organization spans over two decades, having joined as a Management Trainee in 2002 and progressing through various leadership positions.

Regulatory Compliance and Documentation

The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in compliance with SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The board meeting commenced on December 18, 2025, at 15:45 hours IST and concluded at 16:15 hours IST.

The formal communication was addressed to both National Stock Exchange of India Limited and BSE Limited, with all necessary documentation including resignation letters properly submitted to regulatory authorities. This leadership transition reflects Bharti Hexacom's commitment to maintaining strong financial leadership while accommodating strategic organizational movements within the broader Bharti Group ecosystem.

Bharti Hexacom , one of India's leading telecommunications service providers, has announced strong financial results for the second quarter ended September 30, 2025, demonstrating consistent growth across its diverse portfolio.

Financial Highlights

• Consolidated revenues reached Rs. 52,000 crores, with an annualized run rate exceeding Rs. 200,000 crores.
• India revenues, excluding Indus, stood at Rs. 34,900 crores with an EBITDA margin of 51.5%.
• Operating free cash flow was Rs. 10,750 crores, with capex at Rs. 7,200 crores.
• India net debt to EBITDA ratio improved to 1.32.

Operational Performance

Mobile Segment

• Added 1.4 million revenue-earning customers and 5.1 million smartphone data users.
• ARPU (Average Revenue Per User) increased to Rs. 256.
• 5G network expansion continues with 167 million 5G users, handling over 40% of total network traffic.

Broadband and Homes

• Added 951,000 net broadband customers.
• Fixed Wireless Access (FWA) customer base crossed 2.3 million.

Airtel Business

• Reported revenues of Rs. 5,275 crores, growing 4.3% sequentially.

Strategic Developments

Bharti Hexacom announced a partnership with Google to establish data centers in Vishakhapatnam, aiming to expand capacity four-fold to over 1 gigawatt. This move is expected to strengthen the company's position in the data center market.

AGR Dues Update

The company welcomed the Supreme Court's recent AGR order, which allows for a comprehensive assessment and reconciliation of dues. Bharti Hexacom plans to pursue this matter with the government, potentially leading to a reassessment of its AGR liabilities.

Future Outlook

Gopal Vittal, Vice Chairman & Managing Director of Bharti Hexacom, emphasized the company's focus on:

1. Building a diversified and resilient portfolio
2. Winning quality customers
3. Delivering excellent customer experience
4. Leveraging digital capabilities
5. Optimizing costs through 'war on waste' initiatives

The company continues to invest in future-proofing its network infrastructure and expanding its digital services portfolio to drive long-term growth.

Bharti Hexacom's consistent performance and strategic initiatives position it well to capitalize on the growing opportunities in India's telecom and digital services market.