Indus Towers Q2 Results FY2023, Net Profit at Rs. 872 Crores

On 27th October 2022, Indus Towers announced its second quarter results for the period ending 30th September 2022. 

Q2FY23 Performance updates:

-  Consolidated Revenues for the quarter at Rs. 7,967 Crores, up by 15.8% YoY 
- Consolidated EBITDA for the quarter at Rs. 2,812 Crores, down by 23% YoY 
- Consolidated Profit after Tax for the quarter at Rs. 872 Crores, down by 44.1% YoY. Profits remain under pressure due to collection challenges from one of the significant customers
- Consolidated Operating Free Cash Flows for the quarter at Rs. 1,277 Crores, down 39% YoY
- The Return on Equity (Pre-Tax) dropped to 32.3% as against 40.9% on YoY basis and Return on Equity (Post Tax) dropped to 24.2% as against 30.9% YoY basis. 
- The Return on Capital Employed dropped to 19.2% against 23.8% on a YoY basis. 
 

Business Highlights:

- As of September 30, 2022, Indus owned and operated 187,926 towers with 338,128 co-locations in 22 telecommunications Circles in India.
- During the quarter, net co-locations increased by 1,746. Exits during the quarter were 543. Total colocations excluding Lean products and net additions thereof during the quarter aggregates to 1,535.
- For the quarter that ended September 30, 2022, Indus had an average sharing factor of 1.80 per tower.

Commenting on the results, N Kumar, Chairman and Independent Director, Indus Towers Limited (Formerly Bharti Infratel Limited), said: “We have delivered a strong operational performance during the quarter, underpinned by good demand for products across our portfolio. Our financial performance continues to be impacted by the collection challenges we face from one of our customers. Launch of 5G services by two major operators within three months of spectrum auction underlines the strong role of infrastructure players in providing 5G-ready sites at speed. At Indus Towers, we stay excited and prepared to capitalize on the 5G opportunity.”
 

Indus Towers share price dropped by 2.25%