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 ₹1,779 crore for the quarter ended March 31. Revenue grew 7.4% from a year earlier to ₹7,727 crore.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 ₹226 crore in the provision for doubtful receivables.
As on March 31, 2025, doubtful receivables related to Vodafone Idea was ₹298.1 crore, compared with ₹5,384.7 crore a year earlier.
Net finance cost jumped nearly three times to ₹359.7 crore from ₹126.7 crore in the fourth quarter of the previous fiscal year.
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 ₹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 ₹408.05 on the BSE Wednesday. The results were announced after market hours.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Gazette
2 hours ago
- India Gazette
Pimpri Chinchwad makes history as Maharashtra's first civic body to list Green Municipal Bonds on BSE
Mumbai (Maharashtra) [India], June 11 (ANI): In a major milestone for municipal climate financing in India, Pimpri Chinchwad Municipal Corporation (PCMC) on Tuesday successfully listed its Rs 200 crore Green Municipal Bonds on the Bombay Stock Exchange (BSE), becoming the first civic body in Maharashtra to raise funds exclusively for sustainable mobility urban projects through this route. The bell-ringing ceremony held at the BSE in Mumbai witnessed an enthusiastic turnout, with Maharashtra Chief Minister Devendra Fadnavis terming PCMC's achievement as a proud moment for the state. Highlighting the growing importance of using market instruments for sustainability projects in urban governance, Chief Minister Fadnavis noted, 'As soon as the bond was issued, the base amount of Rs 100 crore was subscribed within the very first minute. This is not only a testament to the strength of PCMC's vision but also to the trust investors place in Maharashtra's governance. Prime Minister Narendra Modi has been consistently encouraging urban bodies to raise resources through municipal bonds, and PCMC has taken the lead in this direction. The listing process is complex and requires high levels of diligence--I congratulate every official, institution and partner involved in making this happen.' Deputy Chief Ministers Eknath Shinde and Ajit Pawar were also present at the ceremony, which marked the official listing of the bonds, which were oversubscribed 5.13 times and received bids worth Rs 513 crore. These funds will be utilised for the Harit Setu project in Nigdi Pradhikaran and for the sustainable mobility development project from Gawalimatha to Indrayani Nagar Chowk on Telco Road - both key components of the city's long-term environment and climate strategy through the encouragement of the 15-Minute City Concept through Harit Setu. The project will also be amongst the first proof of concept of last- and first-mile connectivity for Metro Transport and BRTS Bus Transport through active mobility. PCMC Commissioner Shekhar Singh expressed gratitude to the investing community, stating, 'This is more than just a financial accomplishment--it's a bold step toward building a greener, smarter, and more resilient Pimpri Chinchwad. The investor confidence shown today is a strong endorsement of our direction. We are committed to using these funds not just for infrastructure but to promote green and climate-aligned urban development.' On this occasion, Chief Minister Fadnavis also felicitated Commissioner Shekhar Singh with a special listing memento presented on behalf of the Bombay Stock Exchange. Also present were MLCs Uma Khapre and Amit Gorkhe and MLAs Mahesh Landge and Shankar Jagtap, who lauded the city's initiative. Jagtap remarked that such financial tools could also be explored for broader social infrastructure in the future. Chief Secretary Sujata Saunik praised the move as a benchmark in urban innovation, saying, 'The enthusiastic response from investors clearly reflects the credibility of public institutions like PCMC. As urbanisation accelerates, sustainable growth must remain our priority--and PCMC's move is a model worth replicating.' Chief Secretary Sujata Sounik and senior officials including Urban Development Additional Chief Secretary UD-1 Aseem Gupta, Principal Secretary UD-2 KH Govindaraj, MCGM Commissioner Bhushan Gagrani, NMMC Commissioner Kailash Shinde, KDMC Commissioner Abhinav Goyal, Bhiwandi Commissioner Anmol Sagar, Ulhasnagar Commissioner Manisha Awhale and Panvel Commissioner Mangesh Chitale were present at the event, along with PCMC Additional Commissioners Pradip Jambhale Patil and Trupti Sandbhor, Chief Accounts and Finance Officer Pravin Jain, Joint City Engineer Bapusaheb Gaikwad, Deputy Commissioner Anna Bodade, Executive Engineer Sunil Pawar, and Public Relations Officer Prafulla Puranik. The Bombay Stock Exchange was represented by its Managing Director Sundararaman Ramamurthy, who congratulated PCMC and outlined BSE's role in facilitating municipal bond transactions. Aditi Mittal, Managing Director of AK Capital Services Ltd., the transaction's merchant banker and advisor, also attended the ceremony. The Green Bonds, rated AA+ by both CRISIL and CARE, carry a competitive interest rate of 7.85 per cent. Repayments are secured through an escrow account backed by PCMC's Property Tax collections. The civic body's strong fiscal discipline and its alignment with national green goals enabled it to secure Rs 20 crore as an incentive from the Government of India for successfully executing this bond issue. With this landmark moment, PCMC has not only unlocked an innovative funding mechanism but also demonstrated how climate finance can be mainstreamed into local governance--setting an example for other cities across India to follow. (ANI)
New Indian Express
3 hours ago
- New Indian Express
Govt working on mechanism to support Vodafone Idea: Minister
The government is working on a mechanism to help cash-strapped telecom service provider Vodafone Idea, which sought a waiver of Rs 45,000 crore from its adjusted gross revenue (AGR) dues, totalling Rs 83,400 crore, said Minister of State for Communications Pemmasani Chandrasekhar. The minister, in an interview with TNIE, said it is the government's duty to protect the ecosystem and that they want companies to flourish, not to die. Vodafone Idea, India's third-largest telecom service provider, owes Rs 83,400 crore in AGR dues to the government and had sought a waiver of over Rs 45,000 crore, comprising interest, penalty, and interest on penalty. 'So, this is something the Honorable Prime Minister, Cabinet, and entire ministry have been discussing and will continue to discuss. And obviously, we want the companies to flourish; we don't want them to die. We want to have effective competition, but at the same time, we have to make sure we don't give away everything that they ask… Obviously, after the discussion, we will work on some mechanisms to help (Vodafone Idea),' said the minister. The debt-laden telco wrote to the Department of Telecommunication (DoT) urging it to waive its AGR dues, warning that the company may not be able to continue operations beyond FY26. Vodafone Idea also conveyed that without government intervention, it will be unable to meet its AGR obligations, which could force the company into insolvency proceedings under the National Company Law Tribunal (NCLT). Subsequently, Vodafone Idea, along with Bharti Airtel Ltd and Tata Teleservices Ltd, filed a petition in the Supreme Court seeking relief on interest, penalty, and interest on penalty on adjusted gross revenue (AGR) dues to the government.
&w=3840&q=100)
Business Standard
6 hours ago
- Business Standard
TA Associates exits AU Small Finance Bank; sells 1.26% stake for ₹714 cr
Private equity firm TA Associates on Tuesday exited AU Small Finance Bank by selling its entire 1.26 per cent stake in the company for Rs 714 crore through an open market transaction. According to the bulk deal data available on the BSE, US-based TA Associates through its arm TA FDI Investors sold 93.90 lakh shares, amounting to a 1.26 per cent stake in Jaipur-based AU Small Finance Bank (AU SFB). The shares were disposed of at an average price of Rs 760.07 apiece, taking the deal value to Rs 713.78 crore. Details of the buyers of AU SFB's shares could not be ascertained on the BSE. Shares of AU Small Finance Bank fell 0.93 per cent to close at Rs 764.70 apiece on the BSE. In a separate block deal on the BSE, Morgan Stanley Asia (Singapore) sold 1.25 lakh shares of Bajaj Finserv for Rs 25 crore through an open market transaction. The shares were offloaded at an average price of Rs 1,983.8 apiece, taking the deal value to Rs 24.80 crore. These shares were acquired by Paris-based BNP Paribas through its affiliate BNP Paribas Financial Markets at the same price. The scrip of Bajaj Finserv slipped 0.92 per cent to settle at Rs 1998.35 apiece on the BSE.
