Indus Towers Q2 net profit increases 38% yoy to Rs1,559cr; Stock jumps ~3%

The consolidated revenue for the quarter was Rs6,877cr in Q2FY22, up 8% yoy from 6,359 in Q2FY21.

October 26, 2021 9:21 IST | India Infoline News Service
Quarterly Results
Indus Towers Limited (Formerly Bharti Infratel Limited) on Monday announced its audited consolidated results for the second quarter ended September 30, 2021.

The Consolidated revenue for the quarter was Rs6,877cr in Q2FY22, up 8% yoy from 6,359 in Q2FY21. Consolidated EBITDA was at Rs3,641cr in Q2FY22, up 17% yoy from Rs3,118cr in Q2FY21 and representing an operating margin of 52.9%.

The net profit for the quarter was Rs1,559cr in Q2FY22, up 38% yoy from Rs1,131cr in Q2FY21. The Operating Free Cash Flow was at Rs2,109cr up 29% yoy. The Return on Equity (Pre Tax) increased to 40.9% as against 35.7% on yoy basis [Return on Equity (Post Tax) increased to 30.9% as against 26.7% yoy basis]. The Return on Capital Employed increased to 23.8% as against 20.6% on yoy basis.

At around 9.25 am, Indus Towers Ltd was trading at Rs296.50 per piece up by Rs7.85 or 2.72% from its previous closing of Rs288.65 per piece on the BSE. The scrip opened at Rs294 and has touched a high and low of Rs303.55 and Rs292 respectively.

“Following the merger between Bharti Infratel Limited and Indus Towers, effective November 19, 2020, the results filed under Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, are not comparable with the results disclosed prior to the effective date. Hence, the Company has given proforma unaudited consolidated results,” company said in a filing on Monday.

Bimal Dayal, Managing Director and CEO, Indus Towers, said: “This was a significant quarter for the telecom industry in the backdrop of announcement of major reforms which has resulted in sharp improvement in business sentiments. We welcome this vital step and are prepared to partner with our stakeholders in the journey towards Digital India. We continued to improve our operational performance with increase in net colocations during the quarter and delivered a strong financial performance.”

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