Telecom infrastructure company Indus Towers Ltd on Thursday reported a 182 percent year-on-year (YoY) jump in net profit at Rs 1,347.9 crore for the first quarter that ended June 30, 2023, due to strong tower additions and steady collections driving performance.

In the corresponding quarter last year, Indus Towers posted a net profit of Rs 477.3 crore, the company said in a regulatory filing.

In the quarter, total revenue stood at Rs 7,075.9 crore during the period under review, up 2.6 percent against Rs 6,897.3 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 30.6 percent to Rs 5,341.2 crore in the first quarter of this fiscal over Rs 4,089.2 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 75.5 percent in the reporting quarter as compared to 59.3 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The operating free cash flow was at Rs 535 crore, down 34 percent year-on-year. The Return on Equity (Pre-Tax) dropped to 18.7 percent as against 39.0 percent on a year-on-year basis (Return on Equity (Post Tax) dropped to 13.8 percent as against 29.5 percent year-on-year basis).

The Return on Capital Employed dropped to 13.8 percent as against 22 percent on a year-on-year basis. The financials for the first quarter of FY23 were impacted by a provision for doubtful debt of Rs 1,233 crore.

Prachur Sah, managing director and CEO of Indus Towers, said, "We are pleased to have delivered a solid operational performance in Q1 FY24, with the highest quarterly tower additions in our history. The steady collections have aided our financial performance."

The results came after the close of the market hours. Shares of Indus Towers Ltd ended at Rs 176.00, down by Rs 4.70, or 2.60 percent on the BSE.

(Edited by : Pradeep John)