– Indus Towers Limited

The Results for Q2 FY 2023-24 is out!!

Revenue Down 10% YoY at Rs.7,133 crores
EBITDA Up 23% YoY at Rs.3,456 crores
PAT Up 49% YoY at Rs.1,295 Crores

A Mixed set of results is what i feel after going through the same…

Positives :

Good Turnaround with regards to PAT
VI Paying the amount equivalent to monthly billing from january 2023 is a good sign, but still no clarity regarding the amount standing due till December 2022 the payment for which has not yet been materialised as per the Notes to F.S.
Achieved 2,00,000 Macro Towers , a pretty good milestone!!!

Negatives :

Why did the revenue fall despite data usage peaking every month?
Need Clarity on the revenue aspect (Will Update after the ConCall(If Conducted))
Finance Income has almost increased 10x…Need clarity on where the excess funds are being invested by the company.
The extraordinary jump in Net Profit can be attributed to the low base in Sep 22 quarter during which the provisions were charged equivalent to Rs.17,706 Mn against Rs.1,335 Mn charged in the Sep 2023 Quarter…Except this Profit would have fallen since revenue has fallen and all expenses have increased this year

Overall, A Mixed Set of Results…No Big Positive Surprises and Negative Surprises either…

Disc : Invested…And Am an amateur…So kindly correct if i am wrong on any front…

Thanks

Link for accessing the Results & Press Release :

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Indus Towers Limited