 "Indus Towers Q1FY24 results: Net profit jumps 182% YoY to Rs 1350.9 cr")
The standalone net profit of Indus Towers Limited for the first quarter of the current financial year (Q1YFY24) saw a rise of 182 per cent to Rs 1,350.9 crore, compared to Rs 478.9 crore for the corresponding quarter of the previous year, the company said in a BSE filing.
Sequentially, the net profit was down 3.4 per cent. In Q4FY23, the net profit of the company was Rs 1,399 crore.
The revenue from operations for Q1FY24 came in at Rs 7,075.9 crore, compared to Rs 6,897.3 crore year-on-year (YoY). This is an increase of 2.58 per cent.
On a quarter-on-quarter (QoQ) basis, the revenue for operations was up 4.78 per cent. It was Rs 6,752.9 crore in Q4FY23.
The total income for Q1FY24 came in at Rs 7,132.4 crore, compared to Rs 6,989.8 crore year-on-year (YoY). This is a rise of 2.04 per cent.
On a quarter-on-quarter (QoQ) basis, the total income was up 3.83 per cent. It was Rs 6,868.9 crore in Q4FY23.
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Prachur Sah, managing director and CEO, Indus Towers Limited, said that the steady collections have aided the company's financial performance.
"We have made progress on key strategic priorities which are critical to our growth, competitiveness, and customer satisfaction. With the 5G rollouts by operators and network expansion of a major customer progressing at speed, Indus Towers is also keeping pace to capture the growth opportunity and create long-term value.”