Indus Towers Q4 net falls 4% on accounting impact, finance cost
New Delhi:
Indus Towers
on Wednesday reported a 4% fall in fourth-quarter net profit, hurt by an accounting impact from its acquisition of telecom towers from
Bharti Airtel
and higher net finance costs, despite writing back provisions made against doubtful receivables from
Vodafone Idea
.
The
telecom tower company
posted a net profit of Rs 1,779 crore for the quarter ended March 31. Revenue grew 7.4% from a year earlier to Rs 7,727 crore.
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Indus said one of its large customers (Vodafone Idea), which accounts for a substantial part of revenue and receivables, has cleared all undisputed overdue amounts in March 2025, resulting in a significant reduction in the allowance for doubtful receivables. As a result, the fiscal fourth-quarter results reflected a write-back of Rs 226 crore in the provision for doubtful receivables.
As on March 31, 2025, doubtful receivables related to Vodafone Idea was Rs 298.1 crore, compared with Rs 5,384.7 crore a year earlier.
Net finance cost jumped nearly three times to Rs 359.7 crore from Rs 126.7 crore in the fourth quarter of the previous fiscal year.
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In the fiscal fourth quarter, Indus added 14,662 macro towers, taking its total to 249,305. Co-locations increased by 18,616 quarterly, ending the fiscal with 405,435 co-locations. Co-locations are points where a tower company deploys mobile telecom antennae of multiple carriers on a single structure.
The tower additions included the assets it acquired from Bharti Airtel in February. As part of the Rs 3,308.7 crore cash deal, Indus took over 10,380 macro towers and 2,226 lean co-locations.
'FY25 was another excellent year for us with an all-round performance. We delivered one of our highest-ever tower and co-location additions as we continued to garner a major share of our customers' rollouts,' chief executive Prachur Sah said.
Sah said industry developments during the year has strengthened the outlook for the company and the sector, adding that Indus is confident of maintaining the momentum by capitalising on network expansions by its customers, Bharti Airtel and Vodafone Idea.
The company's shares closed 1.34% higher at Rs 408.05 on the BSE Wednesday. The results were announced after market hours.
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