finance
Indus Towers Limited has released its financial reports for the quarter ended December 31, 2021. The company posted a net profit of Rs 15.71 billion during the quarter, witnessing a growth of 16 per cent on Year-on-Year (Y-o-Y) basis.
During the quarter the company added more locations to tap in the data demand amidst the continuing pandemic. Meanwhile, consolidated revenue for the December quarter stood at Rs 69.27 billion, showcasing a growth of 3 per cent on Y-o-Y basis. Also, the quarter observed the consolidated EBITDA for the company rising to 3 per cent on Y-o-Y basis to Rs 37.04 billion. The consolidated operating free cash flows for the quarter stood at Rs. 22.79 billion, witnessing a surge by 21 per cent on Y-o-Y basis.
Besides, during the third quarter (Q3) FY’22, Indus Towers Limited added net 1,286 towers on Q-o-Q basis and 9,238 on Y-o-Y basis across 22 telecom circles in India. The overall co-locations, in turn, increased 2,555 sequentially and 16,796 on-year. Meanwhile, the sharing revenue per tower (per month) rose 2.3 per cent sequentially but fell 3.8 per cent on-year to Rs 79,609.
Commenting on the release, Bimal Dayal, managing director and CEO, Indus Towers Limited (formerly Bharti Infratel Limited), said, “Government through its policies reiterated its commitment towards ensuring the health and stability of the sector, and the telecom operators reciprocated suitably which is expected to aid the financial and operational well-being of the sector participants. At Indus Towers, the quarter marked completion of a year of operations of the merged entity which has made our industry leadership positioning more robust. Our steady operational and financial performance during the quarter was reassuring. We believe that our focus to promote passive infrastructure sharing and capitalise on adjacencies will help us further strengthen our commitment of putting India first through connecting lives.”
