Indus Towers may emit weak signals as Vodafone Idea concerns persist

The rental revenue growth was due to the addition of 7,600 towers, and 7,200 co-locations implying a reduction in the average sharing factor (ASF) sequentially to 1.72x from 1.74x

Telecom infrastructure major Indus Towers reported a robust increase in the consolidated net profit for the December quarter of 2023-24 on the back of strong tower additions, even as Airtel continued to roll out its 5G network.

Indus reported revenue and adjusted Ebitda (earnings before interest, taxes, depreciation, and amortisation) growth of 1 per cent and 3 per cent, respectively, on a quarter-on-quarter (Q-o-Q) basis, led by tower and rental additions and receipt of Rs 300 crore from Vodafone for the past dues, which led to provision write-backs.

The rental Ebitda grew 3 per cent Q-o-Q, while PAT growth was