Indus Towers Q2 net profit jumps 72% to Rs 2,224 cr

Indus Towers reported a 71.7% on-year jump in net profit to Rs 2,224 crore for its fiscal second quarter, on the back of strong tower additions and steady collection of past overdues from Vodafone Idea (Vi).

Quarterly revenue grew 4.7% on year to Rs 7,465 crore in the July-September quarter.

The Indus stock closed 2.21% lower at Rs 366.70 on the BSE. Results for the September quarter were announced after market hours.

In a statement Tuesday, Indus Towers managing director Prachur Sah said the company’s operational performance reflects sustained demand for network expansion and its endeavour towards securing a larger share of customers’ rollouts.

“We expect the performance to continue in the wake of network expansion plans of our customers over the near to medium term,” Sah said.

The tower operator, among the world’s largest, said in Q2 FY25 it had a write back of Rs 1,077 crore in provision for doubtful receivables, aided by collections against past overdue.

In the fiscal second quarter, Indus added 3,748 towers, ending the three-month period with 229,658 towers across 22 telecom circles in India. Co-locations increased 4,308 quarterly, ending the fiscal with 379,236 co-locations. Co-locations are points where a tower company deploys mobile telecom antennae of multiple carriers on a single structure.