Indus Towers sees 32% surge in Q4 net profit, hits Rs 1,399.1 crore

Telecom infrastructure major Indus Towers Ltd on Tuesday (April 30) reported a 32.5% year-on-year (YoY) increase in net profit at ₹1,853.1 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Indus Towers posted a net profit of ₹1,399.1 crore, the company said in a regulatory filing. The company’s revenue from operations increased 6.5% to ₹7,193.2 crore as against ₹6,752.9 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA rose 19% to ₹4,102.6 crore in the fourth quarter of this fiscal over ₹3,446.6 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 57% in the reporting quarter as compared to 51% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The Return on Equity (Pre-Tax) improved to 33.7% as against 12.8% on a year-on-year basis [Return on Equity (Post Tax) improved to 25.1% as against a 9.4% year-on-year basis]. The Return on Capital employed improved to 19.4% as against 11.0% on a year-on-year basis.

Prachur Sah, Managing Director and CEO of Indus Towers said, “We had a remarkable year, evidenced by our strong operational and financial performance. The network expansion by a major customer and increase in our market share helped us deliver record tower additions, surpassing the milestone of 200,000 towers. On the financial front, we were pleased to see steady collections and part clearance of the over dues.”

The results came after the close of the market hours. Shares of Indus Towers Ltd ended at ₹354.80, up by ₹3.00, or 0.85% on the BSE. CNBCTV18