Indus Towers Q2 Results | Net profit zooms 72% to ₹2,224 crore, revenue up 5%
Telecom infrastructure firm Indus Towers Ltd on Tuesday (October 22) reported a 71.7% year-on-year (YoY) jump in net profit at ₹2,223.5 crore for the second quarter that ended September 30, 2024.
In the corresponding quarter of the previous fiscal, Indus Towers posted a net profit of ₹1,294.7 crore, the company said in a regulatory filing. Revenue from operations increased 4.7% to ₹7,465.3 crore against ₹7,132.5 crore in the year-ago period.
At the operating level, EBITDA jumped 42% to ₹4,907 crore in the second quarter of this fiscal over ₹3,455.9 crore in Q2 of the previous fiscal.
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The EBITDA margin stood at 65.7% in the reporting quarter against 48.5% in the corresponding period of FY24. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The return on equity (pre-tax) improved to 38.9% against 20.4% on a YoY basis [return on equity (post tax) improved to 29% as against a 15.1% year-on-year basis].
The return on capital employed improved to 22.9% compared to 14% on a YoY basis. The Q2 FY25 had a write-back of ₹1,077 crore in provision for doubtful receivables, aided by collections against past overdue.
Prachur Sah, Managing Director and CEO of Indus Towers Ltd, said, “Our operational performance reflects sustained demand for network expansion and our endeavour towards securing a larger share of our customers’ rollouts. This continues to drive our financial performance, aided by a steady collection of past overdue from a major customer. Given a healthy cash generation, we rewarded our shareholders through buyback during the quarter.”
The results came after the close of the market hours. Shares of Indus Towers Ltd ended at ₹366.70, down by ₹8.30, or 2.21%, on the BSE.
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(Edited by : Shoma Bhattacharjee)
