Q3 2024 Indus Towers Ltd Earnings Call Transcript
Key Points
- Indus Towers Ltd (BOM:534816) recorded the highest-ever tower additions in its history during Q3 FY24, with 7,563 macro towers and 7,217 co-locations added.
- The company saw a 6.4% year-on-year increase in total revenues, reaching INR72 billion, with core revenues from rental growing by 7.3% year-on-year.
- Indus Towers Ltd (BOM:534816) achieved a higher network uptime of 99.97% despite challenging weather conditions, showcasing operational resilience.
- The company made significant progress in sustainability, adding over 3,300 solar sites in Q3 and reducing diesel consumption by 7% year-on-year.
- The rapid uptake of 5G and ongoing migration from 2G to 4G is expected to spur demand for passive infrastructure, positioning Indus Towers Ltd (BOM:534816) well for future growth.
- The company continues to face challenges with energy margins, which were at negative 2.7% in Q3 FY24, impacted by past period settlements and reconciliation issues.
- Provision for doubtful debts remains a concern, with an additional provision of INR0.6 billion reported in the current quarter.
- The tenancy ratio has been impacted by significant single-tenant tower additions, which may affect profitability in the short term.
- Despite improvements, the collection of past overdue payments from major customers remains a work in progress, affecting cash flow stability.
- The company faces competitive pressures in the leaner towers market from regional players who claim faster delivery times and better geographical knowledge.
Good afternoon, ladies and gentlemen. I'm Vandana, the moderator for this conference. Welcome to the Indus Towers Limited third-quarter ended December 31, 2023, earnings call. (Operator Instructions)
Present with us on the call today is the senior leadership team of Indus Towers. Before I hand over the call, I must remind you that the overview and discussions today may include certain forward-looking statements that must be viewed in conjunction with the risks that we face. I'll now hand over the call to our first speaker of the day, Mr. Prachur Shah. Thank you and over to you Mr. Sah.
Thank you, Vandana, and a very warm welcome to all participants. Joining me today are my colleagues, Mr. Vikas Poddar, CFO; Mr. Tejinder Kalra, COO; and Mr. Dheeraj Agarwal, Head Investor Relations on the call.
I'm pleased to present our business performance for the quarter ended December 31, 2023. This month marks the completion of my first year at Indus and I'm
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
