Indus Towers Q1 Results: Net profit surges 182% to ₹1,348 crore, revenue up 3%; ESOP declared

Indus Towers reported a net profit of ₹1,348 crore in June quarter.


Indus Towers Q1 Results: Indus Towers announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 27, reporting a surge of 182 per cent in consolidated net profit at ₹1,348 crore, compared to ₹477 crore in the corresponding period last year. The growth was driven by higher tenancies and record tower additions during the quarter-under-review.

The company’s revenue from operations during the first quarter of current fiscal stood at ₹7,075 crore, up almost three per cent, compared to ₹6,897 crore in the year-ago period.

At the operating level, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 30.6 per cent to ₹5,341.2 crore in the Juen quarter over ₹4,089.2 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 75.5 per cent in the reporting quarter, compared to 59.3 percent in the corresponding period in the previous fiscal. 

“We are pleased to have delivered a solid operational performance in Q1 FY24, with the highest quarterly tower additions in our history….With the 5G rollouts by operators and network expansion of a major customer progressing at speed, Indus Towers is also keeping pace to capture the growth opportunity and create long term value,” said Prachur Sah, Managing Director and CEO, Indus Towers.

Indus Towers is India’s leading provider of passive telecom infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators. The company’s portfolio of over 1,98,000 telecom towers, makes it one of the largest tower infrastructure providers in the country with presence in all 22 telecom circles. 

On July 27, shares of Indus Towers settled 2.60 per cent lower at ₹176 apiece on the BSE.

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