Indus Towers Q1 Results: Profit Rises 3.9%, Board Approves Rs 2,640-Crore Buyback
The telecommunications infrastructure firm recorded a net profit of Rs 1,926 crore for the quarter-ended June, as compared to Rs 1,853 crore in the previous quarter.
(Source: Indus Towers/Facebook)
Indus Towers Ltd. on Tuesday reported a 3.9% advance in net profit for the first quarter of fiscal 2025, beating analysts' estimates.
The telecommunications infrastructure firm recorded a net profit of Rs 1,926 crore for the quarter-ended June, as compared to Rs 1,853 crore in the previous quarter, according to its stock exchange notification. This was in line with the Rs 1,572.84-crore estimate of analysts tracked by Bloomberg.
Revenue increased by 2.6% year-on-year for the three months ended June, reaching Rs 7,383 crore. Analysts had projected revenue of Rs 7,523.43 crore.
Operating income—or earnings before interest, taxes, depreciation, and amortisation—rose 10.8% quarter-on-quarter to Rs 4,545 crore. The Ebitda margin expanded to 61.6% in comparison with 57% over the previous quarter. Analyst estimates for Ebitda and Ebitda margin tracked by Bloomberg were Rs 4,005.5 crore and 53.2%, respectively.
Share Buyback
The board on Tuesday also approved the proposal to buy back shares worth Rs 2,640 crore. The company will buy back 5.67 crore shares, representing 2.107% stake in the company at a price of Rs 465 per share.
The record date for the buyback has been set as Aug. 9 for the purpose of determining the entitlement and the names of equity shareholders who would be eligible for the buyback.
The company in the exchange filing also added that Bharti Airtel Ltd. will not be part of the share buyback.
Shares of the company closed 0.87% higher at Rs 447.05 apiece, as compared to a 0.09% advance in the NSE Nifty 50.
