Indus Towers has ruled out dividend payouts to shareholders in the absence of any clarity on future dues collections from Vodafone Idea Limited (Vi).
At its fiscal first-quarter earnings call, Indus Towers said that it is constantly pushing its key customer, Vi, to clear its massive past dues estimated at Rs 95 billion.
According to Vinod Rao, senior vice president and national head (finance), Indus Towers, it is difficult to think about dividend payouts in the absence of visibility on future collections from Vi and its funding plans. Meanwhile, Prachur Shah, managing director and chief executive officer, Indus Towers, said at the earnings call that though the monthly collections trend from Vi had stabilised, the tower company is in constant dialogue for getting the customer to clear its past dues.
