Q1FY23 Quarterly Result Announced for Indus Towers Ltd.
Telecom Services firm Indus Towers announced Q1FY23 Result : Consolidated Revenues for the quarter at Rs. 6,897 Crore, up 1% YoY Consolidated EBITDA for the quarter at Rs. 2,322 Crore, down 34% YoY Consolidated Profit after Tax for the quarter at Rs. 477 Crore, down 66% YoY Consolidated Operating Free Cash Flows for the quarter at Rs. 807 Crore, down 60% YoY Impact to profitability on account of prudent accounting practice to reflect stress on receivables from one of the major customers Total Tower base of 186,474 with closing sharing factor of 1.80 Consolidated Revenues at Rs. 6,897 Crore, up 1% YoY Consolidated EBITDA at Rs. 2,322 Crore, down 34% YoY Consolidated Profit after tax at Rs. 477 Crore, down 66% YoY Operating Free Cash Flows at Rs. 807 Crore, down 60% YoY Bimal Dayal, Managing Director and CEO, Indus Towers Limited (Formerly Bharti Infratel Limited), said: “The fundamentals of our business remain strong, and successful conclusion of the 5G auctions has further improved our outlook. As the leading tower infrastructure player in the country, Indus is well placed to enable timely and quality 5G rollout. We have reached an agreement over the renewal of co-locations with two of our major customers which augurs well for the Company by securing its business over the next decade. Our financial performance was an outcome of our prudent accounting practice as there is stress on our receivables due to the financial position of one of our major customers.” Result PDF03-08-2022