Shares of Indus Towers fell 3% in firm intraday trade on Tuesday, falling to a 52-week low of Rs 177.10 on the BSE amid earnings concerns. Shares of the telecom infrastructure company have fallen below the previous low of Rs 181.15 touched on May 16, 2022. The S&P BSE Sensex rose nearly 1% to 60,4890 at 10:01 am.

The Indus Towers Board of Directors is scheduled to meet on January 24, 2023, to consider and approve the audited financial results for the third quarter (Q3) and nine months ending December 31, 2022.

The stock has fallen 10% over the past month, compared with a 1.4% drop in the S&P BSE Sensex. Plus, it’s down 35% over the past year, compared with a 1.4% drop in the benchmark index.

Indus Towers is India’s leading passive telecom infrastructure provider, deploying, owning and managing telecom towers and communication structures for various mobile operators.

The company has more than 1.87 lakh telecommunications towers, making it one of the largest tower infrastructure providers in the country, with operations across all 22 telecommunications industries. Indus Towers caters to all wireless telecommunication service providers in India.

For Q2FY23 (July-September), Indus Towers’ net profit fell 44% YoY to Rs 872 crore. Revenue rose 16% year-on-year to Rs 7,967 crore, but profit fell due to challenges in recovering dues from Vodafone Idea (VIL).