Indus Towers today announced its consolidated results for the third quarter ended December 31, 2023, with revenue for the quarter at Rs 7,199 crores, up 6.4 percent Year on Year. The company reported a net profit of Rs 1,541 crores, compared to a loss of Rs 708 crores in the previous year, in an announcement on Tuesday.
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Tower Base
Indus said the consolidated EBITDA was at Rs 3,622 Crores, up 205.4 percent Y-o-Y, representing an operating margin of 50.3 percent.
The company reported a total macro tower base of 211,775 with a closing sharing factor of 1.70, marking the third consecutive quarter of record tower additions.
The Return on Capital Employed improved to 19.2 percent compared to 12.5 percent on a Y-o-Y basis. Q3 FY23 had an impact of Rs 2,270 crores due to a provision for doubtful debts and Rs 493 crores from an exceptional item, Indus Towers said.
Prachur Sah, Managing Director, and CEO of Indus Towers Limited, said: “Our third consecutive quarter of record tower additions demonstrated our robust operational performance. This was mirrored in the strong financial performance, which was further supplemented by steady collections.
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"We expect our major customer's focus on its network expansion and the ongoing 5G rollouts to continue yielding growth opportunities for us in the near term. Our timely investments to capitalize on these opportunities will generate long-term returns for our shareholders," Prachur Sah added.
