Results     24-Jan-25
Analysis
Indus Towers
NP up 160% YoY to Rs 4003 crore in Q3FY2025
On consolidated basis

Quarter ended December 2024 compared with Quarter ended December 2023.

Net sales (including other operating income) of Indus Towers has increased 4.84% to Rs 7547.4 crore.  

Operating profit margin has jumped from 49.78% to 92.19%, leading to 94.14% rise in operating profit to Rs 6,958.10 crore.  Employee cost increased from 2.76% to 2.87%.   Other expenses fell from 47.46% to 4.94%.   Power and Oil fuel cost fell from 38.83% to 37.43%.   

Other income fell 15.27% to Rs 83.8 crore.  PBIDT rose 91.21% to Rs 7041.9 crore.  Provision for interest rose 2,279.44% to Rs 254.6 crore.  

PBDT rose 84.83% to Rs 6787.3 crore.  Provision for depreciation fell 1.70% to Rs 1568.5 crore.  

Profit before tax grew 151.33% to Rs 5,218.80 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 1215.6 crore, compared to Rs 536 crore.  Effective tax rate was 23.29% compared to 25.81%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 159.86% to Rs 4,003.20 crore.  

Promoters’ stake was 50.00% as of 31 December 2024 ,compared to 69.00% as of 31 December 2023 .  

 

Year-to-date (YTD) results analysis

Net sales (including other operating income) of Indus Towers has increased 4.62% to Rs 22395.7 crore.  

Operating profit margin has jumped from 48.98% to 72.90%, leading to 55.71% rise in operating profit to Rs 16,326.00 crore.  Employee cost increased from 2.71% to 2.77%.   Other expenses fell from 48.32% to 24.33%.   Power and Oil fuel cost fell from 39.60% to 38.48%.   

Other income rose 0.59% to Rs 254.1 crore.  PBIDT rose 54.41% to Rs 16580.1 crore.  Provision for interest rose 77.48% to Rs 1080.3 crore.  

PBDT rose 53.03% to Rs 15499.8 crore.  Provision for depreciation rose 4.75% to Rs 4709.1 crore.  

Profit before tax grew 91.55% to Rs 10,790.70 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 2638.1 crore, compared to Rs 1450.4 crore.  Effective tax rate was 24.45% compared to 25.75%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 94.89% to Rs 8,152.60 crore.  

Promoters’ stake was 50.00% as of 31 December 2024 ,compared to 69.00% as of 31 December 2023 .  


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 234,643 with closing sharing factor of 1.65

 

Diversification:

 

Indus Towers Limited, India`s leading telecom tower infrastructure provider, has decided to pursue suitable business opportunities in the Electric Vehicle (EV) charging infrastructure sector and received the approval of its Board of Directors for the same subject to prudential framework. The Company has already launched pilot EV charging stations in Gurugram and Bengaluru.

 

Management Comment:

Commenting on the performance Mr Prachur Sah, Managing Director & CEO, Indus Towers said, “We are pleased to see our ability to maintain a dominant share of our major customers’ rollouts reap dividends in the form of robust tower and colocation additions, reiterating our superior execution capabilities and customer centric approach. The strong additions along with significant collections of overdue from a major customer helped us record an excellent financial performance.

We expect the resumption of network expansion by a major customer coupled with the rollouts by other customers to act as strong levers of growth. We remain cognizant of the sustainability aspect in our growth plans, and our focus on securing strategic partnerships under Green Energy Open Access is a step in that direction.”



Indus Towers : Consolidated Results
 Quarter endedYear to DateYear ended
Particulars202412202312Var.(%)202412202312Var.(%)202403202303Var.(%)
Net Sales (including other operating income)7,547.407,199.004.8422,395.7021,407.404.6228,600.6028,381.800.77
OPM (%)92.1949.784,241 bps72.9048.982,392 bps50.9034.071,683 bps
OP6,958.103,584.0094.1416,326.0010,485.0055.7114,556.609,668.6050.56
Other Inc.83.8098.90-15.27254.10252.600.59361.10361.30-0.06
PBIDT7,041.903,682.9091.2116,580.1010,737.6054.4114,917.7010,029.9048.73
Interest254.6010.702,279.441,080.30608.7077.48735.401,453.90-49.42
PBDT6,787.303,672.2084.8315,499.8010,128.9053.0314,182.308,576.0065.37
Depreciation1568.51595.7-1.704709.14495.44.756059.95323.913.82
PBT5,218.802,076.50151.3310790.75633.591.558122.43252.1149.76
Share of Profit/(Loss) from Associates00-00-00-
PBT before EO5218.82076.5151.3310790.75633.591.558122.43252.1149.76
EO Income00-00-0-492.8-
PBT after EO5218.82076.5151.3310790.75633.591.558122.42759.3194.36
Taxation1215.6536126.792638.11450.481.892086.2719.3190.03
PAT4003.21540.5159.868152.64183.194.896036.22040195.89
Minority Interest (MI)00-00-00-
Net profit4003.21540.5159.868152.64183.194.896036.22040195.89
P/(L) from discontinued operations net of tax00-00-00-
Net profit after discontinued operations4003.21540.5159.868152.64183.194.896036.22040195.89
EPS (Rs)*14.855.72159.8630.2515.5294.8922.408.92151.05
* 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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