Indus Towers’ YoY Q2FY22 net profit rises 38%

New Delhi, (Samajweekly) Passive telecom infrastructure provider Indus Towers on Monday reported a year-on-year rise of 38 per cent in its consolidated net profit for the second quarter ended September 30.

The consolidated profit after tax of the company rose to Rs 1,559 crore during the quarter under review from Rs 1,131 crore reported for the correponding period of the previous fiscal.

Besides, the company’s consolidated revenue for the quarter rose by 8 per cent YoY to Rs 6,877 crore from Rs 6,359 crore for Q2FY21.

The consolidated EBITDA increased by 17 per cent YoY to Rs 3,641 crore, representing an operating margin of 52.9 per cent.

“This was a significant quarter for the telecom industry against the backdrop of announcement of major reforms which has resulted in sharp improvement in business sentiments. We welcome this vital step and are prepared to partner with our stakeholders in the journey towards ‘Digital India’,” Managing Director and CEO Bimal Dayal said.

“We continued to improve our operational performance with increase in net co-locations during the quarter and delivered a strong financial performance.”

The company deploys, owns and manages telecom towers and communication structures, for various mobile operators.

Its portfolio of over 183,000 telecom towers, makes it one of the largest tower infrastructure providers in the country with presence in all 22 circles.