Market

Indus Towers Q4 results: Net profit rises 38% Rs 1,364 crore

New Delhi: Indus Towers posted a net profit of Rs 1,364 crore for the January-March quarter, up 38% on year, but remained flat sequentially, even as the tower company continued to report highest tower additions for two successive quarters.

“On the operational front we continued our strong momentum in 4Q’21 and delivered the highest ever annual gross tower additions,” said Bimal Dayal, Managing Director and CEO, Indus Towers.

As per the fourth quarter results for FY21, released on Thursday, Indus added net 3,715 towers across 22 telecom circles in India, beating the previous quarter’s record of 3,416 additions.

Its consolidated revenue stood at Rs. 6,492 crore, up 3% on-year and consolidated earnings before interest tax depreciation and amortization (EBITDA) increased 17% to Rs 3,413 crore in the January-March period.

“In the backdrop of the pandemic, we continue to work closely with our customers to ensure seamless connectivity across the country. With the ongoing digital transformation across sectors, we see new opportunities for shared infrastructure providers like Indus Towers to usher in their next phase of growth,” Dayal said.

Indus added net 4,128 co-locations but sharing revenue per tower declined 5.9% to Rs 77,825. Co-locations are points where a tower company deploys mobile telecom antennae of multiple carriers on a single structure.

As of March 31 2021, Indus owned and operated 179,225 towers with 322,438 co-locations across India.

The world’s largest tower company, formerly known as

, was merged in November last year after which sold its 11.15% stake in Indus for a cash consideration of Rs 3,760.1 crore.

Promoters of the merged entity, Bharti Airtel and Vodafone Group currently hold 41.73% and 28.12% share in Indus Towers respectively.

The company’s stock rose 1.74% in Thursday’s trade to close at Rs 260.55 per share on BSE, as the benchmark index gained 0.79%. Results were declared after market hours.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button