India’s leading passive telecom provider, Indus Tower reported a consolidated net profit of Rs 1,348 crore for the quarter ending on June 30; the company has reported a 182% increase from Rs 477 crore reported in the year-ago quarter.

The operating revenue for the company also increased by 3% to Rs 7,076 crore against the Rs 6,897 crore posted in the same quarter of the previous fiscal year.

Indus Tower EBITDA was at Rs 3,514 crore, which is an increase of 51% YoY representing an operating margin of 49.7%.

The company’s ROE (Return on Equity) increased by 3% to Rs 7,076 crore from Rs 6,897 crore in Q1FY23.

The number of towers around the country grew by 5,410 units, bringing the total portfolio to 1,98,284 at the end of the June quarter.

The revenue generated per tower per month was steady at Rs 73,286. In contrast, sharing revenue per sharing operator came at Rs 41,503, nearly flat on a quarterly and yearly basis.

Prachur Sah, Managing Director and CEO of Indus Towers Limited said, “We are pleased to have delivered a solid operational performance in Q1 FY24, with the highest quarterly tower additions in our history,”

He added, “The steady collections have aided our financial performance. We have
made progress on key strategic priorities which are critical to our growth, competitiveness, and customer satisfaction. With the 5G rollouts by operators and network expansion of a major customer progressing at speed, Indus Towers is also keeping pace to capture the growth opportunity and create long-term value,”