Telecom infrastructure company Indus Towers, on 1 May, announced its quarterly earnings for January-March.

The company registered a 32% year-on-year increase in consolidated net profit to Rs 1,853.1 crore for the quarter from Rs 1,399.1 crore reported in the same quarter last year. 

The revenue from operations during the quarter stood at Rs 7,193.2 crore, marking a 6.5% YoY increase from Rs 6,752.9 crore reported in the same quarter of the previous fiscal year. The company’s annual revenue for FY24 stood at Rs 28,600.6 crore from Rs 28,381.8 crore reported during FY23. 

Earnings before interest, tax, depreciation and amortisation (EBITDA) during the quarter grew by 19% to Rs 4,102.6 crore during the quarter under review from Rs 3,446.6 crore reported in Q4FY23. EBITDA margin during the quarter stood at 57% against 51% in the corresponding period in the previous fiscal.

Prachur Sah, MD and CEO of Indus Towers said, “The network expansion by a major customer and increase in our market share helped us deliver record tower additions, surpassing the milestone of 2,00,000 towers. On the financial front, we were pleased to see steady collections and part clearance of the over-dues.”

The company added 26,862 mobility towers to 2,19,736 towers at the end of March 2024 from 1,92,874 towers at the end of FY23.