Indus Towers Q2 Results: Net profit jumps 72% to Rs 2,224 crore on strong tower additions
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.
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