Indus Towers Reports Rs 4,003 Crore Profit in Q3, Enters EV Charging Market

Indus Towers Posts Rs 4,003 Crore Profit in Q3, Expands to EV Charging Infrastructure
Indus Towers Limited (Indus Towers) reported a net profit of Rs 4,003 crore in the fiscal third quarter which ended December 31, 2024, reflecting a 159.9 percent year-on-year increase. This growth was driven by tower additions and significant overdue collections from Vodafone Idea (Vi), one of its major customers. Quarterly revenue rose by 4.8 percent year-on-year to Rs 7,547 crore.

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Also Read: Vodafone Increases Stake in Vi to 24.39 Percent After Completing Share Placing in Indus

Tower Additions and Co-Locations

Indus Towers added 4,985 new towers in the quarter, bringing its total to 234,643 across 22 telecom circles. Co-locations, where multiple carriers share tower space, grew by 7,583, bringing the total to 386,819.

“We are pleased to see our ability to maintain a dominant share of our major customers’ rollouts reap dividends in the form of robust tower and colocation additions, reiterating our superior execution capabilities and customer centric approach. The strong additions along with significant collections of overdue from a major customer helped us record an excellent financial performance,” said Prachur Sah, Managing Director and CEO of Indus Towers Limited, in a statement.

Also Read: Indus Deploys 180 Towers in Prayagraj for Maha Kumbh Mela 2025

Sustainability and Partnerships

“We expect the resumption of network expansion by a major customer coupled with the rollouts by other customers to act as strong levers of growth. We remain cognizant of the sustainability aspect in our growth plans, and our focus on securing strategic partnerships under Green Energy Open Access is a step in that direction,” he added.

The tower operator, one of the world’s largest, said in Q3 FY25 it had a write-back of Rs 3,024 crore in provision for doubtful receivables, aided by collections against past overdue. Return on Capital Employed improved to 29.3 percent as against 19.2 percent on year-on-year basis, the company said.