Earnings Review
Indus Towers Jan-Mar PAT flat QoQ, beats view by a whisker
This story was originally published at 11:16 IST on 1 May 2026
Register to read our real-time news.Informist, Friday, May 1, 2026
By Shakshi Jain
NEW DELHI – Telecommunications infrastructure company Indus Towers Ltd. late Thursday posted a marginally higher-than-expected bottom line for the March quarter, helped by a slight sequential rise in other income. Meanwhile, the top line of the company declined slightly on quarter, missing analysts' consensus estimate.
Jan-Mar marked the second consecutive quarter of a sequential decline, even though small in quantum, in the top line of the company while the bottom line rose quarter-on-quarter after declining in the trailing three months.
The subsidiary of Bharti Airtel Ltd. reported a consolidated net profit of INR 17.93 billion for the March quarter, up nearly 1% on quarter. On a year-on-year basis, the bottom line was up 0.8%. Analysts had estimated the company's net profit for the reporting quarter at INR 17.82 billion.
Indus Towers' consolidated revenue from operations declined 0.6% sequentially but rose almost 5% on year to INR 81.01 billion. This is lower than analysts' consensus estimate of INR 82.60 billion.
Indus Towers maintained its cautious financial approach in the March quarter by not recognising revenue equalisation assets related to the straight-lining of lease rentals for a "large customer", which is widely understood as Vodafone Idea Ltd., due to the financial condition of the customer.
The company's total expenses for Jan-Mar remained largely unchanged on quarter but rose over 9% on year to INR 36.37 billion. Power and fuel costs, which comprise the largest share in the company's expenditure pie, declined over 2% sequentially but rose by roughly the same quantum on year to INR 28.88 billion during the quarter. Its adjusted depreciation and amortisation expense for the quarter grew over 2% sequentially and almost 9% on year to INR 18.39 billion.
Indus Towers net added 4,892 macro towers in Jan-Mar to take its total to 264,514 by the end of the quarter. Macro co-locations increased by 6,192 in the quarter to reach 428,014 as of March-end. The company also net added 55 lean co-locations during the quarter.
On other hand, the company's sharing revenue per macro tower declined to INR 66,604 per month in Jan-Mar from INR 67,285 in the trailing three months. More
To read more please subscribe
Share this Story:
