Indus Towers reports 182% y-o-y growth in Q1 net profit at Rs 1,348 crore

28 Jul 2023 , 09:48 AM

Indus Towers, the country’s leading provider of passive telecom infrastructure such as towers and communication infrastructures, reported a consolidated net profit of Rs 1,348 crore for the quarter ended June 2023, up 182% from Rs 477 crore in the same quarter last year. Higher tenancies and record tower additions throughout the time drove the gains.

Its operating revenue increased by 3% to Rs 7,076 crore from Rs 6,897 crore in the previous fiscal’s corresponding quarter.

The Return on Equity (RoE) fell to 13.80% from 29.50% year-on-year. On a year-over-year basis, the Return on Capital Employed fell to 13.8% from 22%.

Quarter on quarter, the number of towers increased by 5,410 to 1,98,284 at the end of June. Sharing revenue per tower per month was in line at Rs 73,286. While sharing revenue per sharing operator per month was Rs 41,503, essentially flat QoQ and YoY and broadly in line with expectations.

EBITDA stood at Rs 3,514 crore, up 51% year-on-year, indicating a 49.7% operating margin.

At around 9.44 AM, Indus Towers was trading 1.22% lower at Rs 173.85, against the previous close of Rs 176 on NSE. The counter touched an intraday high of Rs 179.50.

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