Indus Towers Q2 Results | Net profit surges 46% to Rs 1,295 crore, revenue slumps 11%

At the operating level, EBITDA jumped 23% to ₹3,456 crore in the second quarter of this fiscal over ₹ 2,812 crore in the corresponding period in the previous fiscal.

The Return on Equity (Pre-Tax) dropped to 20.4% as against 32.3% on a year-on-year basis . The Return on Capital Employed dropped to 14.0% as against 19.2% on a year-on-year basis.

The revenue for Q2 FY23 included a benefit of ₹1,076 crore from deferred recognition of revenues arising from the settlement of old dues with the customers. The same quarter also had an impact of ₹1,771 crore due to provision for doubtful debt.

The company reported an increase of 16,286 towers on year-on-year basis, taking the total number to 2,04,212.

Prachur Sah, managing director and CEO of Indus Towers, said, "The quarter marked Indus Towers reaching a milestone of 200,000 macro towers, reaffirming its leadership position. We are also proud to have delivered another quarter of our highest tower additions which translated into a steady financial performance."

The results came after the close of the market hours. Shares of Indus Towers Ltd ended at ₹174.25, down by ₹3.55, or 2.00 percent on the BSE.