Indus Towers Limited has announced its audited consolidated results for the quarter and full year ended March 31, 2024. The consolidated revenue for the quarter rose by 6.5 per cent on a year-on-year (YoY) basis to Rs 71.93 billion. Further, the consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 19 per cent to Rs 41.03 billion during the period. This represented an operating margin of 57 per cent.
The net profit for the quarter was reported as Rs 18.53 billion, up by 32.4 per cent. The operating free cash flow for the company stood at Rs 7.27 billion, down by 37 per cent on a YoY basis. Meanwhile, the return on equity (pre-tax) improved to 33.7 per cent as against 12.8 per cent on a YoY basis. Moreover, the return on capital employed improved to 19.4 per cent as against 11 per cent on a YoY basis.
Commenting on the financial results, Prachur Sah, managing director and chief executive officer (CEO), Indus Towers Limited, said, “We had a remarkable year, evidenced by our strong operational and financial performance. The network expansion by a major customer and increase in our market share helped us deliver record tower additions, surpassing the milestone of 200,000 towers. On the financial front, we were pleased to see steady collections and part clearance of the over dues. We expect the ongoing network expansion and 5G rollouts, supplemented by the encouraging developments around a major customer’s fund raise to provide a fillip to our growth. While we continue with our growth journey, we remain steadfast in our commitment to sustainability.”
