Indus Towers Q2 Profit Soars 72% to Rs 2,224 Cr

New Delhi, Oct 22 (PTI) Telecom infrastructure company Indus Towers on Tuesday reported a 71.7 per cent year-on-year rise in consolidated net profit to Rs 2,224 crore for the September 2024 quarter.

Notably, Q2 FY25 had a write-back of Rs 1,077 crore in provision for doubtful receivables, aided by collections against past overdue, the company said in its earnings release.

For the just-ended quarter, the consolidated revenues stood at Rs 7,465 crore, 4.7 per cent higher than the year-ago period.

"Our operational performance reflects sustained demand for network expansion and our endeavour towards securing a larger share of our customers' rollouts. This continues to drive our financial performance, aided by steady collection of past overdue from a major customer," Prachur Sah, Managing Director and CEO of Indus Towers, said.

Sah noted that given a healthy cash generation, the company had rewarded its shareholders through buyback during the quarter.

"We expect the performance to continue in the wake of network expansion plans of our customers over the near to medium term. Guided by our strategic priorities and inherent capabilities, we remain confident of capitalising on these opportunities and generating value for all our stakeholders," Sah said.