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Informist, Monday, Feb. 2, 2026

 

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--Indus Towers Oct-Dec consol net profit INR 17.76 bln 
--Analysts saw Indus Towers Oct-Dec consol net profit at INR 18.13 bln 
--Indus Towers Oct-Dec consol revenue INR 81.46 bln 
--Analysts saw Indus Towers Oct-Dec consol revenue at INR 83.09 bln 
--Indus Towers Oct-Dec consol PAT INR 17.76 bln vs INR 18.39 bln qtr ago 
--Indus Towers Oct-Dec consol revenue INR 81.46 bln vs INR 81.88 bln qtr ago 
--Indus Towers Apr-Dec consol PAT INR 53.52 bln vs INR 81.53 bln yr ago 
--Indus Towers Apr-Dec consol revenue INR 243.92 bln vs INR 223.96 bln yr ago
--Indus Towers Oct-Dec consol EBITDA INR 45.09 bln vs INR 46.13 bln qtr ago 
--Indus Towers Oct-Dec consol EBITDA margin 55.3% vs 56.3% qtr ago 
--Indus Towers Oct-Dec capex INR 19.80 bln vs INR 25.59 bln qtr ago
--Indus Towers: Towers at 259,622 units on Dec 31 vs 256,074 units qtr ago 
--Indus Towers co-locations at 421,822 units Dec 31 vs 415,717 units qtr ago 
--Indus Towers Q3 sharing sales/tower INR 67,285/mo vs INR 67,924/mo qtr ago

 

By Shakshi Jain 

 

NEW DELHI –  Indus Towers Ltd. Monday posted a lower-than-expected bottom line for the December quarter due to a rise in total expenses while its top line declined slightly quarter-on-quarter. The company's bottom line returned to the declining territory in Oct-Dec after a mid single-digit sequential growth in the trailing quarter. The top line of the company recorded a sequential decline in Oct-Dec after six consecutive quarters of growth.

 

Indus Towers' top line as well as bottom line for the December quarter fell short of the Street's expectations.

 

The telecommunications infrastructure provider's consolidated net profit for the December quarter fell 3.5% sequentially to INR 17.76 billion. On a year-on-year basis, the bottom line was down nearly 56%. Analysts' consensus estimate had pegged the company's bottom line for the quarter at INR 18.13 billion.

 

On a year-on-year basis, Indus Towers' bottom line in the December quarter was down nearly 56%. In the year-ago quarter, the company had written back INR 30.24 billion in provisions for doubtful receivables.

 

Indus Towers' consolidated revenue from operations for the December quarter declined 0.51% sequentially but rose 8% on year to INR 81.46 billion. This was also below the Street's expectation of INR 83.09 billion in top line for the reporting quarter.  

 

The company's revenue per tower fell to INR 67,285 per month in the December quarter from INR 67,924 per month in the trailing quarter, data shared in a press release showed. The company net added 3,548 macro towers during the quarter to take its overall number to 259,622 as of Dec. 31. Macro co-locations increased by 6,105 in the December quarter to arrive at 421,822 at the end of the quarter, the filing showed. The company also net added 26 lean co-locations in the December quarter.

 

Indus Towers' total expenses during the December quarter rose 1.7% sequentially to INR 36.38 billion, exerting pressure on the company's profitability. This was partially due to a near 12% sequential rise in the company's employee benefit expenses for the quarter at INR 2.29 billion. The new labour codes resulted in an estimated one-time increase in provisions for employee benefits of INR 71 million, the company said.

 

Also, in the September quarter, Indus Towers had reversed INR 1.95 billion in provisions for doubtful receivables. In the December quarter, the company reversed only INR 13 million to report other expenses at INR 1.04 billion for the three months. 

 

Meanwhile, power and fuel costs, the biggest item in the company's expenditure pie, fell over 4% sequentially to INR 29.52 billion in the December quarter. The company's expenses tied to repairs and maintenance also fell nearly 7% on quarter to INR 3.51 billion.

 

"The recent government measures on AGR (adjusted gross revenue) dues of a major customer are expected to aid its financial stability which bodes well for us," Chief Executive Officer and Managing Director Prachur Sah said in the release. Indus Towers is a key beneficiary of Vodafone Idea Ltd.'s network expansion.

 

OPERATIONAL PERFORMANCE

Indus Towers' consolidated earnings before interest, tax, depreciation, and amortisation fell to INR 45.09 billion in the December quarter from INR 46.13 billion in the trailing quarter. Its consolidated EBITDA margin contracted 100 basis points sequentially to 55.3% in Oct-Dec.

 

The subsidiary of Bharti Airtel Ltd. incurred a capital expensiture of INR 19.80 billion in the December quarter against INR 25.59 billion in the trailing quarter.

 

For the first nine months of 2025-26 (Apr-Mar), the company's consolidated net profit fell over 34% on year to INR 53.52 billion while its revenue from operations grew nearly 9% to INR 243.92 billion.

 

Monday, shares of the company closed nearly 2% higher at INR 431.80 on the National Stock Exchange. The company reported its quarterly results after market hours.  End

 

Edited by Akul Nishant Akhoury

 

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