Indus Towers Limited has released its audited consolidated financial results for quarter ended September 30, 2024.
As per the company, the revenue stood at Rs 74.65 billion as compared to Rs 71.33 billion in second quarter (Q2) of financial year 2023-2024 (FY24), showing a 4.7 per cent year-on-year (YoY) growth. Meanwhile, company’s earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 49.07 billion as compared to Rs 34.56 billion in the reported period, up by 42 per cent YoY. Further, EBIT increased to Rs 32.84 billion from Rs 18.96 billion, registering a 73.2 per cent YoY increase for the same period. Furthermore, profit after tax (PAT) increased to Rs 22.24 billion from Rs 12.95 billion in the corresponding quarter of FY24, marking a 71.7 per cent YoY increase.
Moreover, the company added 3,748 towers, ending the quarter with 229,658 towers across 22 telecom circles in India. Co-locations increased 4,308 quarterly, ending the fiscal with 379,236 co- locations.
Commenting on the report, Prachur Sah, managing director and chief executive officer (CEO), Indus Towers Limited, said, “Our operational performance reflects sustained demand for network expansion and our endeavour towards securing a larger share of our customers’ rollouts. This continues to drive our financial performance, aided by steady collection of past overdue from a major customer. Given a healthy cash generation, we rewarded our shareholders through buyback during the quarter. We expect performance to continue in the wake of network expansion plans of our customers over near to medium term. Guided by our strategic priorities and inherent capabilities, we remain confident of capitalising on these opportunities and generating value for all our stakeholders.”
