Indus Towers Q1 Results FY2023, Net profit at Rs. 447 crores

On 2nd August 2022, Indus Towers announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- The Consolidated revenue for the quarter was Rs.6,897 Crores, up 1% Yo-Y. 

-  Consolidated EBITDA was at Rs.2,322 Crores, down 34% YoY and representing an operating margin of 33.7%. 

- The net profit for the quarter was Rs.477 Crores, down 66% YoY

-  The Operating Free Cash Flow was at Rs. 807 Crores down 60% YoY. 

- The Return on Equity (Pre-Tax) dropped to 39% as against 40.5% on YoY basis [Return on Equity (Post Tax) dropped to 29.5% as against 30.4% YoY basis]. 

- The Return on Capital Employed dropped to 22% as against 22.9% on YoY basis.

Commenting on the results, Bimal Dayal, Managing Director and CEO, Indus Towers Limited (Formerly Bharti Infratel Limited), said: “The fundamentals of our business remain strong, and successful conclusion of the 5G auctions has further improved our outlook. As the leading tower infrastructure player in the country, Indus is well placed to enable timely and quality 5G rollout. We have reached an agreement over the renewal of co-locations with two of our major customers which augurs well for the Company by securing its business over the next decade. Our financial performance was an outcome of our prudent accounting practice as there is stress on our receivables due to the financial position of one of our major customers.”