Indus Towers announces Consolidated results for the First Quarter ended June 30, 2024

Indus Towers Limited (“ Indus Towers” or “the Company”) announced its audited Consolidated results for the first quarter ended June 30, 2024. The Consolidated revenue for the quarter was Rs. 7,383 Crores, up 4.3% Y-o-Y. Consolidated EBITDA was at Rs. 4,545 Crores, up 29.4% Y-o-Y and representing an EBITDA margin of 61.6%. The net profit for the quarter was Rs. 1,926 Crores, up 42.9% Y-o-Y. The Return on Equity (Pre-Tax) improved to 34.7% as against 18.7% on Y-o-Y basis [Return on Equity (Post Tax) improved to 25.7 % as against 13.8% Y-o-Y basis]. The Return on Capital Employed improved to 20.9% as against 13.8% on Y-o-Y basis. Q1 FY25 had a write back of Rs. 760 Crores in provision for doubtful receivables, aided by collections against past overdue.

Prachur Sah, Managing Director and CEO, Indus Towers Limited, said, “Another quarter of robust tower additions reaffirms our competitive strength in the passive infrastructure space. Business growth along with continued collection of past dues underpinned our strong financial performance. We expect network expansion and 5G deployments by our customers to continue to act as growth levers. We are confident of building on these opportunities to create value for our shareholders in a sustainable manner.”

Summary of the Consolidated Statement of Income –  Represents Consolidated Statement of Income as per IND AS.

(Amount in Rs. Crores, except ratios)

– 1. Revenue, EBITDA, EBIT, Operating free cash flow and Adjusted Fund from Operations (AFFO) are excluding other income.

2. OperatingFree CashFlow is a non IND AS measure and is defined as EBITDA adjusted for capex and repayment of lease liabilities.
3. AdjustedFundFrom Operations is a non IND AS measure and is defined as EBITDA adjusted for Maintenance and General Corporate capex and repayment of lease liabilities.

Tower & Co–Location Base

1 A revenue item has been reclassified for both macro and lean towers, and the corresponding changes have been made in the sharing revenue metrics. Previous period figures have been restated to conform to current quarter classification.