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Results
31-Jul-24
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Analysis
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Indus Towers
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NP up 43% YoY to Rs 1926 crore in Q1FY2025
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On consolidated basis
Quarter ended June 2024 compared
with Quarter ended June 2023.
Net sales (including other operating income) of Indus Towers has increased
4.34% to Rs 7383 crore.
Operating profit margin has jumped
from 49.17% to 61.01%, leading to 29.45% rise in operating profit to Rs
4,504.10 crore. Employee cost increased from 2.61% to 2.67%.
Other expenses fell from 48.21% to 36.32%. Power and
Oil fuel cost fell from 39.94% to 39.29%.
Other income fell 0.18% to Rs 56.4
crore. PBIDT rose 28.97% to Rs 4560.5 crore. Provision
for interest rose 16.10% to Rs 408.2 crore.
PBDT rose 30.40% to Rs 4152.3
crore. Provision for depreciation rose 13.57% to Rs 1560.5
crore.
Profit before tax grew 43.17% to Rs
2,591.80 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 665.9 crore, compared
to Rs 462.4 crore. Effective tax rate was 25.69% compared to 25.54%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 42.88% to Rs 1,925.90 crore.
Promoters’ stake was 52.01% as of 30
June 2024 ,compared to 69.00% as of 30 June 2023 . Promoters pledged
stake was 5.88% as of 30 June 2024 ,compared to 30.50% as of 30 June 2023
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Full year results analysis.
Net sales (including other operating income) of Indus Towers has increased
0.77% to Rs 28600.6 crore.
Operating profit margin has jumped
from 34.07% to 50.90%, leading to 50.56% rise in operating profit to Rs
14,556.60 crore. Employee cost increased from 2.73% to 2.74%. Other
expenses fell from 63.21% to 46.37%. Power and Oil fuel cost rose
from 37.32% to 38.98%.
Other income fell 0.06% to Rs 361.1
crore. PBIDT rose 48.73% to Rs 14917.7 crore. Provision
for interest fell 49.42% to Rs 735.4 crore. Loan funds rose to Rs
20,531.00 crore as of 31 March 2024 from Rs 19,184.90 crore as of 31 March
2023. Sundry debtors were higher at Rs 6,450.70 crore as of 31 March
2024 compared to Rs 4,868.70 crore as of 31 March 2023. Cash and
bank balance rose to Rs 63.10 crore as of 31 March 2024 from Rs 22.40 crore as
of 31 March 2023.
PBDT rose 65.37% to Rs 14182.3
crore. Provision for depreciation rose 13.82% to Rs 6059.9
crore. Fixed assets increased to Rs 39,708.90 crore as of 31 March
2024 from Rs 32,715.10 crore as of 31 March 2023. Intangible assets
declined from Rs 23.10 crore to Rs 13.20 crore.
Profit before tax grew 149.76% to Rs
8,122.40 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 2086.2 crore, compared
to Rs 719.3 crore. Effective tax rate was 25.68% compared to 26.07%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 195.89% to Rs 6,036.20 crore.
Equity capital stood at Rs 2,694.90
crore as of 31 March 2024 to Rs 2,694.90 crore as of 31 March
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 69.00% as of 31
March 2024 ,compared to 69.00% as of 31 March 2023 . Promoters
pledged stake was 30.50% as of 31 March 2024 ,compared to 30.50% as of 31 March
2023 .
Cash flow from operating activities
increased to Rs 11,582.10 crore for year ended March 2024 from Rs 7,904.80
crore for year ended March 2023. Cash flow used in acquiring fixed
assets during the year ended March 2024 stood at Rs 8,952.90 crore, compared to
Rs 3,622.60 crore during the year ended March 2023.
Others:
Total Tower base of 225910 with
closing sharing factor of 1.66
Management Comment:
Commenting
on the performance Mr Prachur Sah, Managing Director & CEO, Indus Towers
said, “Another quarter of robust tower additions reaffirms our competitive
strength in the passive infrastructure space. Business growth along with
continued collection of past dues underpinned our strong financial performance.
We
expect network expansion and 5G deployments by our customers to continue to act
as growth levers.
We
are confident of building on these opportunities to create value for our
shareholders in a sustainable manner.”
| Indus Towers : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202406 | 202306 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 7,383.00 | 7,075.90 | 4.34 | 28,600.60 | 28,381.80 | 0.77 | | OPM (%) | 61.01 | 49.17 | 1,183 bps | 50.90 | 34.07 | 1,683 bps | | OP | 4,504.10 | 3,479.50 | 29.45 | 14,556.60 | 9,668.60 | 50.56 | | Other Inc. | 56.40 | 56.50 | -0.18 | 361.10 | 361.30 | -0.06 | | PBIDT | 4,560.50 | 3,536.00 | 28.97 | 14,917.70 | 10,029.90 | 48.73 | | Interest | 408.20 | 351.60 | 16.10 | 735.40 | 1,453.90 | -49.42 | | PBDT | 4,152.30 | 3,184.40 | 30.40 | 14,182.30 | 8,576.00 | 65.37 | | Depreciation | 1560.5 | 1374.1 | 13.57 | 6059.9 | 5323.9 | 13.82 | | PBT | 2,591.80 | 1,810.30 | 43.17 | 8122.4 | 3252.1 | 149.76 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 2591.8 | 1810.3 | 43.17 | 8122.4 | 3252.1 | 149.76 | | EO Income | 0 | 0 | - | 0 | -492.8 | - | | PBT after EO | 2591.8 | 1810.3 | 43.17 | 8122.4 | 2759.3 | 194.36 | | Taxation | 665.9 | 462.4 | 44.01 | 2086.2 | 719.3 | 190.03 | | PAT | 1925.9 | 1347.9 | 42.88 | 6036.2 | 2040 | 195.89 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 1925.9 | 1347.9 | 42.88 | 6036.2 | 2040 | 195.89 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 1925.9 | 1347.9 | 42.88 | 6036.2 | 2040 | 195.89 | | EPS (Rs)* | 7.15 | 5.00 | 42.88 | 22.40 | 8.92 | 151.05 | | | * EPS is on current equity of Rs 2,694.94 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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