iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Indus Towers reports a loss of Rs 708 crore in Q3FY23; stock slips ~2.5%

25 Jan 2023 , 06:38 PM

Indus Towers reported a Rs708 crore net loss in the third quarter of the current financial year, compared to a Rs1,571 crore net profit the previous year, after being forced to make a sizable Rs2,298.10 crore provision for doubtful debt in the October-December period after a key customer, believed to be Vodafone Idea, warned of potential difficulties in meeting future payment commitments.

As a result, India's largest telecom tower company has implemented a strict policy for calculating a doubtful debt allowance on overdue receivables. The additional provision for the doubtful debt of Rs2,298.10 crore in the December quarter represents a nearly 30% increase sequentially. In the second quarter, the tower company set aside Rs1,770.90 crore for doubtful debt.

Indus' consolidated revenue for the October-December period was Rs6,765 crore, down 2% year on year, while consolidated earnings before interest, tax, depreciation, and amortization (EBITDA) fell 68% year on year to Rs1,186 crore, owing to Vi's ongoing difficulties in meeting its obligations. The December quarter's free cash flow was a negative Rs621 crore.

Following this development, Indus Towers was trading 2.26% lower at Rs166.60, against the previous close of Rs170.45 on NSE. The counter opened at Rs164.20, which is also its intraday low so far.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Indus Towers
  • Indus Towers Q3
  • Q3 results
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

NHPC net profit declines 18%, shares down
18 May 2024|10:24 AM
Indian markets end the day in Green
18 May 2024|12:12 AM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.