Business & Investment

Indus Towers Q3 Results: Net Income Up 2% YoY to Rs 1,360

Telecom Tower Company Indus Towers‘Profit increased by 2% year-on-year and 20.3% quarterly to Rs 1,360 during the first quarter after the merger with Bharti Infratel, from October to December. The company reported the addition of a record high net tower in the quarter.

“This was a milestone quarter for us as the former merger with Bharti Infratel Limited was completed. Indus Tower. Bimal Dayal, MD and CEO of Indus Towers, said:

“On the operational side, we have seen strong network deployments across the country and we have reported the addition of a record high net tower in the quarter.”

The company’s revenue increased 6% on an annual basis and gradually increased by 5% to Rs 6,736. Interest, taxes, depreciation and consolidated profit before amortization (EBITDA) 3,608 rupees, up 10% from the previous year.

Indus added net 3,416 towers and 4,204 collocations, increasing shared revenue per tower by 5.6% to Rs 82,732.

Colocation is the point at which tower companies deploy mobile telecom antennas from multiple carriers in a single structure.

As of December 31, 2020, Indus owns and operates 175,510 towers and has 318,310 collocations in a 22 ton communication circle. India..

The merger, which was completed in November last year after a two-year hiatus, formed one of the largest telecommunications tower companies in the world. Vodafone Idea Ltd (Vi) received Rs 3,760.1 in cash by selling a 11.15% stake in Indus Towers to an entity established after the merger was completed.

With Bharti Airtel, the business entity after the merger Vodafone Group They have a 36.7% and 28.12% share, respectively. Providence Equity Partners hold 3.25%, while Private Equity Fund, KKR and Canada Pension Plan Investment Board (CPPIB) hold a total of 7.1%. The merged tower company holds 35.2%.

Indus Towers Stock price Benchmark index fell 1.13%, rising 1.13% on Thursday and closing at BSE at Rs 241.25 per share. Results were announced after business hours.



Indus Towers Q3 Results: Net Income Up 2% YoY to Rs 1,360

https://economictimes.indiatimes.com/markets/stocks/earnings/indus-towers-q3-results-net-profit-rises-2-yoy-to-rs-1360-cr/articleshow/80513590.cms Indus Towers Q3 Results: Net Income Up 2% YoY to Rs 1,360

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