Consolidated income for the first fiscal quarter stood at Rs. 6,877 crore, up 8% year-on-year and consolidated earnings before interest, depreciation and amortization (EBITDA) increased 17% to Rs 3,641 crore.
“This was an important quarter for the telecommunications industry in the context of the announcement of major reforms which resulted in a marked improvement in business sentiment… We continued to improve our operational performance with an increase in net shared tenancies during the quarter. and achieved a strong financial performance, ”said Bimal Dayal, Managing Director of Indus Towers.
Co-locations are points where a tower company deploys mobile telecommunications antennas from several operators on a single structure.
In the second fiscal quarter, Indus added 2,465 net turns per quarter and 11,368 per year in 22 telecom circles in India. Co-locations increased by 7,196 sequentially and 18,445 in one year.
The company said reporting of tours and roommates went from a notification basis to an actual exit basis as of July 1, 2021.
During the consolidation phase of the telecommunications sector, Indus adopted in December 2018 a conservative approach to reporting exit notices received compared to the previous method of reporting actual exits. Now, with the industry stabilizing and the trend for fewer exits, Indus has reverted to the previous approach of reporting churn rate based on actual exits to represent actual billed roommates, ”Indus said. This resulted in the ad hoc addition of 3,630 shared flats for the quarter ended September 30, 2021.
As of September 30, Indus owned and operated 184,462 towers with 332,551 co-locations across India.
The world’s largest tower company, formerly known as Bharti Infratel, merged in November last year, after which Vodafone Idea sold its 11.15% stake in Indus for a cash consideration of Rs 3,760.1 crore.
The company’s shares fell 4.6% in Monday’s trade to close at Rs 288.65 per share on BSE. Results were reported after market hours.