Indus Towers Ltd reports Rs. 1399.1 cr consolidated profit

Indus Towers Limited (Formerly Bharti Infratel Limited) announced its audited Consolidated results for the fourth quarter and full year ended March 31, 2023.The Consolidated revenue for the quarter was Rs.6,753 Crores, down 5% Y-o-Y. Consolidated EBITDA was at Rs.3,447 Crores, down 15% Y-o-Y and representing an operating margin of 51%. The net profit for the quarter was Rs. 1,399 Crores, down 23% Y-o-Y. The Operating Free Cash Flow was at Rs. 1,155 Crores, down 58% Y-o-Y. The Return on Equity (Pre-Tax) dropped to 12.8% as against 44.3% on Y-o-Y basis [Return on Equity (Post Tax) dropped to 9.4% as against 33.5% Y-o-Y basis]. The Return on Capital Employed dropped to 11% as against 25.7% on Y-o-Y basis. The financials of Q4 2021-22 included one-time positive impact of Rs 547 Crores on account of deferred recognition of revenue from past settlements. In 2022-23, the Company adhered to prudent accounting practices and reflected the stress on its receivables due to collection challenges faced from one of the major customers.

Prachur Sah, Managing Director and CEO, Indus Towers Limited (Formerly Bharti Infratel Limited), said:

“We ended the year on a positive note with a robust operational performance and improvement in collections during the last quarter. The renewal of co-locations with our major customers during the year has secured our business over the long run. Furthermore, the rapid pace of 5G rollouts and new tower rollouts supported by our major customer’s focus on expansion are expected to act as strong levers of growth for the foreseeable future. Being the largest passive infrastructure player in the country, we are well placed to tread this growth path in a sustainable way.”

Summary of the Consolidated Statement of Income – Represents Consolidated Statement of Income as per IND AS. 

CT Bureau