Indus Towers Limited has announced its audited consolidated results for the quarter ended (QE) September 30, 2022. The consolidated revenue for the quarter was reported at Rs 79.67 billion, witnessing a growth of 16 per cent on year-on-year (Y-o-Y) basis. Meanwhile, the consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 23 per cent on Y-o-Y basis to Rs 28.12 billion.

The net profit for the company during the quarter stood at Rs 8.72 billion, down by 44 per cent on Y-o-Y basis. Further, the operating free cash flow was reported to be Rs 12.77 billion for the period under consideration, declining by 39 per cent on Y-o-Y. The return on equity (pre-tax) dropped to 32.3 per cent as against 40.9 per cent on Y-o-Y basis while the return on equity (post-tax) dropped to 24.2 per cent as against 30.9 per cent Y-o-Y basis. The financial performance continued to be impacted by the collection challenges from one of the major customers of the company.

Commenting on the results, N Kumar, chairman and independent director, Indus Towers Limited, said, “We have delivered a strong operational performance during the quarter, underpinned by good demand for products across our portfolio. Our financial performance continues to be impacted by the collection challenges we face from one of our customers. Launch of 5G services by two major operators within three months of spectrum auction underlines the strong role of infrastructure players in providing 5G-ready sites at speed. At Indus Towers, we stay excited and prepared to capitalise on the 5G opportunity.”