Indus Towers Limited has released its audited consolidated financial results for quarter ended December 31, 2024.
As per the company, the revenue stood at Rs 75.47 billion as compared to Rs 71.99 billion in third quarter (Q3) of financial year 2023-2024 (FY24), showing a 4.8 per cent year-on-year (YoY) growth. Meanwhile, company’s earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 69.97 billion as compared to Rs 36.22 billion in the reported period, up by 93.2 per cent YoY. Further, EBIT increased to Rs 53.90 billion from Rs 19.88 billion, registering a 171.1 per cent YoY increase for the same period. Furthermore, profit after tax (PAT) increased to Rs 40.03 billion from Rs 15.41 billion in the corresponding quarter of FY24, marking a 159.9 per cent YoY increase. The company’s operating free cash flow also witnessed a rise of 2891.1 per cent YoY from 1.63 in Q3 FY23 to 48.7 billion in Q3 FY24.
Commenting on the report, Prachur Sah, managing director and chief executive officer (CEO), Indus Towers Limited, said, “We are pleased to see our ability to maintain a dominant share of our major customers’ rollouts reap dividends in the form of robust tower and colocation additions, reiterating our superior execution capabilities and customer centric approach. The strong additions along with significant collections of overdue from a major customer helped us record an excellent financial performance. We expect the resumption of network expansion by a major customer coupled with the rollouts by other customers to act as strong levers of growth. We remain cognizant of the sustainability aspect in our growth plans, and our focus on securing strategic partnerships under Green Energy Open Access is a step in that direction.”
