The corporate additionally introduced its foray within the electrical automobile charging infrastructure sector. Indus has performed pilot EV charging stations in Gurugram and Bengaluru.
The tower firm’s quarterly revenues grew 4.8% on-year to Rs 7,547 crores within the October-December quarter.
Vi has been paying its month-to-month dues on time to Indus since January 2023 and has additionally been clearing previous dues. To this point, the financially struggling telco has paid Rs 7,575.5 crore to date in opposition to previous dues, of which Rs 5,247.3 crore was paid within the December quarter. The telco has additionally paid Rs 178.2 crore in the direction of curiosity on its overdues within the fiscal third quarter.
Through the quarter, after Vodafone Concept bought its total stake within the firm, the cash-strapped telco cleared Rs 1,910 crore of its previous dues to the tower firm from money raised after its latest concern of recent shares on a preferential foundation to its UK co-promoter Vodafone Group Plc, the corporate mentioned in an announcement Thursday.
Indus mentioned it continues to be in dialogue for a last cost plan for clearance of its total overdue stability. Vodafone Concept now owes Rs 524.6 crore as excellent debt, Indus mentioned.“We’re happy to see our capability to keep up a dominant share of our main prospects’ rollouts reap dividends within the type of strong tower and colocation additions, reiterating our superior execution capabilities and buyer centric strategy,” Indus Towers CEO and managing director Prachur Sah mentioned in an announcement.“The sturdy additions together with vital collections of overdue from a serious buyer helped us file a wonderful monetary efficiency,” he added. Vodafone Concept’s resumption of community growth coupled with the rollouts by Bharti Airtel proceed to behave as levers of progress, Indus mentioned.
The tower operator, among the many world’s largest, mentioned in Q3 FY25 it had a write again of Rs 3,024 crore in provision for uncertain receivables, aided by collections in opposition to previous overdue.
The Indus inventory closed 2.93% larger at Rs 367.4 on the BSE. Outcomes for the December quarter had been introduced after market hours.
Within the fiscal third quarter, Indus added 4,985 towers, ending the three-month interval with 234,643 towers throughout 22 telecom circles in India. Co-locations elevated 7,583 quarterly, ending the fiscal with 386,819 co-locations. Co-locations are factors the place a tower firm deploys cellular telecom antennae of a number of carriers on a single construction.
In a separate assertion, Indus additionally introduced its diversification into the EV charging infrastructure sector.
“ The Firm is effectively positioned to contribute to the EV charging infrastructure sector by leveraging its experience in managing and offering area, energy, and operations and upkeep (O&M) for seamless operation and effectivity. That is in step with the Firm’s plan to complement its long-term progress by related adjoining enterprise alternatives,” Indus mentioned.
