Indus Towers Limited has announced its audited consolidated results for the third quarter ended (QE) December 31, 2023. The consolidated revenue for the quarter stood at Rs 71.99 billion, up 6.4 per cent on a year-on-year (YoY) basis. Consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 205.4 per cent YoY at Rs 36.22 billion, representing an operating margin of 50.3 per cent.
The net profit for the company during the quarter was recorded at Rs 15.41 billion, compared to a loss of Rs 7.08 billion in the same quarter last year. The return on equity (pre-tax) improved to 33.5 per cent as against 16.5 per cent on a YoY basis, while the return on equity (post-tax) improved to 24.8 per cent as against 12.3 per cent YoY. The return on capital employed rose to 19.2 per cent as against 12.5 per cent YoY. Q3 FY23 had an impact of Rs 22.7 billion due to provision for doubtful debts and Rs 4.93 billion from an exceptional item.
Commenting on the results, Prachur Sah, managing director and chief executive officer, Indus Towers Limited, said, “Our third consecutive quarter of record tower additions demonstrated our robust operational performance. This was mirrored in the strong financial performance, which was further supplemented by steady collections. We expect our major customer’s focus on its network expansion and the ongoing 5G rollouts to continue yielding growth opportunities for us in the near term. Our timely investments to capitalise on these opportunities will generate long term returns for our shareholders.”
