Indus Towers (Formerly Bharti Infratel) reported revenue of Rs 6,765 crore (–2 percent), EBITDA of Rs 1,186 crore (–68 percent) representing operating margin of 17.5 percent and net loss of Rs 708 crore for the third quarter ended December 31, 2022.
The Return on Capital Employed dropped to 12.5 percent as against 24.5 percent. The loss in the books was a result of adoption of stringent accounting practices by the company due to shortfall in collections from one of the major customers.
“Our financial performance remains impacted as we have adopted stringent accounting practices amid persistent shortfall in collections. The rapid rollout of 5G services across the country marks an exciting phase for the telecom sector,” Prachur Sah, Managing Director and CEO, Indus Towers, said