Indus Towers back in black with Q3 net profit of ₹1,540 crore, revenue up 6%

The consolidated EBITDA margin stood at 50.3% in the reporting quarter as compared to 17.5% 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 33.5% as against 16.5% on a year-on-year basis .

The return on capital employed improved to 19.2% as against 12.5% on a year-on-year basis. Q3 of FY23 had an impact of ₹2,270 crore due to provision for doubtful debts and ₹493 crore from an exceptional item.

Prachur Sah, managing director and CEO of Indus Towers 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."

"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," Sah said.

The results came after the close of the market hours. Shares of Indus Towers Ltd ended at ₹217.25, up by ₹1.75, or 0.81% on the BSE.