Indus Towers Record 12% Y-o-Y Consolidated Revenues Growth in Q1 FY22

Indus Towers Limited announced its consolidated results for the Q1 FY22 on Thursday.

Indus Towers Record Positive Q1 FY22

The largest tower company in India, formed after the merger between Bharti Infratel and Indus Towers, came into existence last November. The company said that its consolidated revenue for the quarter was ₹6,797 Crore. This figure was up 12% Y-o-Y. Furthermore, consolidated EBITDA was at ₹3,529 Crore, up 13% Y-o-Y. This represents an operating margin of 51.9%. Indus also said that it had a net profit of ₹1,415 crore for the quarter, up by 26% on-year.

At the end of the quarter, the company had 1,80,997 towers, and 3,25,355 co-locations.

Interestingly, the company has published proforma unaudited consolidated results. Since the merger came in effect after the end of Q1 FY21, the results filed under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, are not comparable with the results disclosed prior to the effective date. These results assume that the merger went through in April, 2018, when creating the reports.

Bimal Dayal, Managing Director and CEO, Indus Towers Limited, said, "the Q1 of FY 22 witnessed the second wave of COVID 19 pandemic impacting lives and livelihoods across the country on one hand and severe cyclones in many states on the other. Indus Towers continues to stand tall against all odds to ensure support for customers, society and nation. The Company has also delivered a strong financial performance for the Quarter.”