NEW DELHI: Indus Towers on Thursday reported more than doubling of its consolidated net profit to Rs 4,003 crore in the third quarter of 2024-25 on the back of strong tower and colocation additions as well as significant collections of overdue from "a major customer". The December quarter had a write-back of Rs 3,024 crore in provision for doubtful receivables, aided by collections against past overdue, the company said in its earnings release.
The tower infrastructure company expects the resumption of network expansion by "a major customer" and rollouts by others, to drive growth.
The consolidated profit after tax stood at Rs 4,003 crore, 160 per cent year-on-year increase as compared to Rs 1,541 crore in Q3FY24.
The quarter saw an improvement on various metrics including return on capital employed, which rose to 29.3 per cent as against 19.2 per cent on Y-o-Y basis.
"We are pleased to see our ability to maintain a dominant share of our major customers' rollouts reap dividends in the form of robust tower and colocation additions, reiterating our superior execution capabilities and customer centric approach," Prachur Sah, Managing Director and CEO, Indus Towers said.
The strong additions along with significant collections of overdue from a major customer helped the company record an excellent financial performance, he explained.
"We expect the resumption of network expansion by a major customer coupled with the rollouts by other customers to act as strong levers of growth," he added.
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