Indus Towers Q3 Results: Profit More Than Doubles, Beats Estimates
Revenue increased 4.4% year-on-year to Rs 7,547 crore for the three months ended December.
Indus Towers Ltd.'s consolidated net profit more than doubled in the third quarter of this financial year, beating analysts' estimates.
India's largest mobile tower installation company posted a profit of Rs 4,003 crore in the quarter ended December, compared to Rs 1,540 crore in the same quarter of the previous fiscal, according to an exchange filing. This is above the Rs 1,907-crore estimate by analysts tracked by Bloomberg.
Revenue increased 4.4% year-on-year to Rs 7,547 crore for the three months ended December. Analysts had projected a revenue of Rs 7,665 crore.
In the third quarter, the company's operating profit, or earnings before interest, taxes, depreciation, and amortisation, rose 94% year-on-year to Rs 6,958 crore.
The Ebitda margin expanded from 49.8% to 92.2% in the same period the previous year. Analysts estimated the Ebitda of the company to be Rs 4,538 crore, at a margin of 59.20%.
Indus informed the exchanges on Thursday that Vodafone shareholders divested their remaining approximately 3% shareholding in the company on Dec. 5, 2024, and consequently, no longer hold any equity shares in the company.
"We are pleased to see that our ability to maintain a dominant share of our major customers' rollouts pays off in the form of robust tower and co-location additions," Prachur Sah, chief executive officer of Indus Towers, said. "This reflects our superior execution capabilities and customer-centric approach."
In a separate statement, Indus Towers announced its foray into the EV sector. It said the company launched pilot EV charging stations in Gurugram and Bengaluru.
"The company is well positioned to contribute to the EV charging infrastructure sector by leveraging its expertise in managing and providing space, power, and operations and maintenance for seamless operation and efficiency," it said. "This is in line with the company's plan to supplement its long-term growth through relevant adjacent business opportunities."
