Indus Towers Limited has received Rs 3 billion against past dues from Vodafone Idea Limited (Vi). The payment by Vi was in addition to its monthly payments to the tower company. Indus Towers stated that collections from the telco have improved during the third quarter (Q3) of fiscal year 2023 (FY23), and it expects the operator to continue clearing its monthly bills.
Speaking at the company’s Q3 earnings call, Prachur Sah, chief executive officer, Indus Towers, said that the company is working with the customer to ensure that it continuously gets paid for its current work as well as unwinding on the past dues.
Sad informed that the company’s quarterly macro sites and co-location additions increased more than five times over the same period last year. This indicates a significant improvement in share in the business of its major customer, Bharti Airtel, who has been rolling out the network extensively. Indus Towers expects Airtel to continue with rollouts in rural areas in the near future and is confident of being its trusted partner for network expansion.
