Indus Towers' Profits Surge Amid Network Expansion Drive

Indus Towers reported a 71.7% increase in net profit for Q2 FY25, reaching Rs 2,224 crore, largely due to a Rs 1,077 crore write-back in doubtful receivables. Revenue rose by 4.7% to Rs 7,465 crore. The company's growth is driven by ongoing network expansion and successful overdue collections.

Telecom giant Indus Towers witnessed a remarkable 71.7% jump in its consolidated net profit for the September 2024 quarter, reaching Rs 2,224 crore. A significant factor in this growth was the Rs 1,077 crore write-back in provision for doubtful receivables, aided by successful collections against past dues.

The company's revenue for the quarter stood at Rs 7,465 crore, marking a 4.7% increase over the same period last year. Indus Towers attributes its financial success to the sustained demand for network expansion and securing a larger share of customers' rollout plans.

CEO Prachur Sah emphasized that the company's healthy cash generation enabled shareholder rewards through buyback initiatives. He expressed confidence in continued performance growth, driven by strategic priorities and customer network expansion plans.

(With inputs from agencies.)