Indus Towers Limited has posted a consolidated net profit of Rs 13.6 billion during the quarter ended (QE) December 2020. On an annual basis, the net profit has increased by 2 per cent from Rs 13.31 billion in QE December 2019.
Further, the company’s consolidated revenue witnessed an increase of 5 per cent year-on-year (YoY) from Rs 64.43 billion in QE December 2019 to Rs 67.36 billion in QE December 2020.
Meanwhile, Indus Towers reported a YoY increase of 10 per cent in its consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) from Rs 32.86 billion during QE December 2019 to Rs 36.08 billion during QE December 2020. While the operating cash flow declined by 4 per cent from Rs 19.63 billion to Rs 18.76 billion during the period.
The company’s tower addition in the quarter was 3,416 on a net basis, leading to an installed base of 175,510. On a YoY basis, the firm gained 9,064 co-locations, which makes its total number of co-locations 318,310.
Commenting on the development, Bimal Dayal, managing director (MD) and chief executive officer (CEO), Indus Towers Limited (Formerly Bharti Infratel Limited), said, “This was a milestone quarter for the company with the completion of merger between Bharti Infratel Limited and erstwhile Indus Towers. The two companies have come together with zero disruption with customers and other stakeholders in the last few months, a testament to the strength of the people that have been working collaboratively across teams. Operationally, we have witnessed strong network rollouts across the country and the company has reported its highest ever net tower additions in a quarter. We believe with the newer technologies and developments in the telecom space, the potential for passive infrastructure remains vibrant. Going forward, the merged company, Indus Towers Limited will continue to support its customers in delivering the government’s Digital India vision.”
