Indus Towers gained 1.26% to Rs 252.65 after the company reported a 60.4% jump in consolidated net profit to Rs 1,570.8 crore on a 70.6% rise in net sales to Rs 6,927.4 crore in Q3 FY22 over Q3 FY21.
Following the merger between Bharti Infratel and Indus Towers, effective 19 November 2020, the results filed are not comparable with the results disclosed prior to the effective date. Hence, the company has given proforma unaudited consolidated results.Consolidated profit before tax surged 68.7% to Rs 2,088.9 crore in Q3 FY22 from Rs 1,238 crore posted in Q3 FY21. Meanwhile, EBITDA was at Rs 3,704 crore, up 3% year on year representing an operating margin of 53.5%.
On the operational front, the company's tower strength stood at 1,84,748 as of 31 December 2021 as compared to 1,83,462 towers on 30 September 2021 and 1,75,510 towers on 31 December 2020. The average sharing factor remained unchanged at 1.81 times as of 31 December 2021 as compared to 30 September 2021.
Revenue per tower stood at Rs 79,609 as of 31 December 2021, falling 3.8% from Rs 82,732 from same period last year. Meanwhile, the company reported operating free cash flows at Rs 2,279 crore, up 21% year on year.
Bimal Dayal, MD and CEO of Indus Towers said, Government through its policies reiterated its commitment towards ensuring the health and stability of the sector, and the telecom operators reciprocated suitably which is expected to aid the financial and operational well-being of the sector participants. At Indus Towers, the quarter marked completion of a year of operations of the merged entity which has made our industry leadership positioning more robust. Our steady operational and financial performance during the quarter was reassuring. We believe that our focus to promote passive infrastructure sharing and capitalize on adjacencies will help us further strengthen our commitment of Putting India First through connecting lives.
Indus Towers (formerly Bharti Infratel) is India's leading provider of passive telecom infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.
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