Indus Towers has announced its consolidated results for the first quarter ended (QE) June 30, 2024. The consolidated revenue for the quarter increased by 4.3 per cent on a year-on-year (YoY) basis from Rs 70.76 to Rs 73.83 billion. Consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 29.4 per cent YoY from Rs 35.14 billion to Rs 45.45 billion, representing an EBITDA margin of 61.6 per cent.
The profit after tax (PAT) stood at Rs 19.26 billion during quarter-ended June 30, 2024, as compared to Rs 13.48 billion during corresponding quarter in 2023, showing a 42.9 per cent year-on-year (YoY) growth. Meanwhile, the profit before tax (PBT) stood at Rs 25.92 billion, showing a 43.2 per cent YoY growth as compared to Rs 18.1 billion in the corresponding quarter of 2023.
Furthermore, the operating free cash flow showed a 228.1 per cent YoY growth from Rs 5.35 billion to Rs 17.55 billion while adjusted fund from operations showed a 36.9 per cent YoY growth from 24.68 billion to Rs 33.77 billion for the period under consideration.
Commenting on the announcement, Prachur Sah, managing director and chief executive officer (CEO), Indus Towers Limited, said, “Another quarter of robust tower additions reaffirms our competitive strength in the passive infrastructure space. Business growth along with continued collection of past dues underpinned our strong financial performance. We expect network expansion and 5G deployments by our customers to continue to act as growth levers. We are confident of building on these opportunities to create value for our shareholders in a sustainable manner.”
