Indus Towers reported a 71.7 per cent year-on-year jump in net profit to Rs 2,223.5 crore for the second quarter ending 30 September 2024. In the corresponding quarter last fiscal, the company posted a net profit of Rs 1,294.7 crore, according to its regulatory filing.
Revenue from operations rose 4.7 per cent to Rs 7,465.3 crore, up from Rs 7,132.5 crore a year earlier. EBITDA surged by 42 per cent to Rs 4,907 crore compared to Rs 3,455.9 crore in the same period of FY24, with the EBITDA margin improving to 65.7 per cent from 48.5 per cent.
The company also saw a notable rise in return on equity, with the pre-tax figure climbing to 38.9 per cent from 20.4 per cent, and the post-tax return reaching 29 per cent from 15.1 per cent. Return on capital employed improved to 22.9 per cent YoY. A write-back of Rs 1,077 crore in provision for doubtful receivables boosted results, thanks to collections from past overdue payments.
Prachur Sah, Managing Director and CEO of Indus Towers 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.”