Indus Towers Q3 Results FY2023, Net Loss at Rs. 708 crores

On 24th January 2023, Indus Towers announced its results for the third quarter of FY2023.

Key Highlights:

-  Consolidated Revenues at Rs. 6,765 Crores, down 2% YoY 
- Consolidated EBITDA at Rs. 1,186 Crores, down 68% YoY 
- Consolidated Net Loss after Tax at Rs. 708 Crores 
- Operating Free Cash Flows at Rs. (621) Crores 
- The Return on Equity (Pre-Tax) dropped to 16.5% as against 39.3% on a YoY basis [Return on Equity (Post Tax) dropped to 12.3% as against 29.8% YoY.
- The Return on Capital Employed dropped to 12.5% as against 24.5% on a YoY basis.
- Total Tower base of 189,392 with closing sharing factor of 1.79.

Commenting on the results, Prachur Sah, Managing Director and CEO, Indus Towers Limited (Formerly Bharti Infratel Limited), said: “Our strong business fundamentals have enabled us to deliver a steady operational performance during the quarter. 
Our financial performance remains impacted as we have adopted stringent accounting practices amid persistent shortfall in collections. The rapid rollout of 5G services across the country marks an exciting phase for the telecom sector. Indus being the leading tower infrastructure Company, stands to benefit from this opportunity and continues to participate in this journey.”