Indus Towers posts Rs 1,360 crore profit in Q3

Indus Towers merged with Bharti Infratel Limited on November 19, hence the financial performance of the company is not comparable with the past period, it added.

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The country’s largest mobile tower company Indus Towers on Thursday posted a consolidated profit of Rs 1,360 crore for the third quarter ended December 2020. Indus Towers, formerly Bharti Infratel, had reported a profit after tax of Rs 1,331 crore in the same period a year ago.

Indus Towers merged with Bharti Infratel Limited on November 19, hence the financial performance of the company is not comparable with the past period, it added. Consolidated revenues for the quarter stood at Rs 6,736 crore. The company had clocked a revenue of Rs 6,443 crore in the corresponding period of 2019-20.

This was a milestone quarter for the Company with the completion of merger between Bharti Infratel Limited and erstwhile Indus Towers.

“Operationally, we have witnessed strong network rollouts across the country and the Company has reported its highest ever net tower additions in a quarter,” Indus Towers Managing Director and CEO Bimal Dayal said in a statement.

The total mobile tower base of the company at the end of the reported quarter stood at 1,75,510.