Q2 2025 Indus Towers Ltd Earnings Call Transcript
Key Points
- Indus Towers Ltd (BOM:534816) reported a 100% collection rate against monthly billing from a major customer, with improved collections on past overdue accounts.
- The company added 3,748 micro towers and 4,308 co-locations in Q2, demonstrating strong operational performance despite adverse weather conditions.
- Revenues grew by 4.7% year-on-year to INR74.7 billion, with core rental revenues increasing by 8.5% year-on-year.
- EBITDA increased by 42% year-on-year, with margins improving to 65.7%, indicating strong profitability.
- The company is expanding its renewable energy portfolio, with over 25,000 solar sites, contributing to sustainability goals.
- Adverse weather conditions, such as floods and heavy rainfall, impacted tower rollouts, posing operational challenges.
- The company faces a GST show cause notice regarding tax credits on passive infrastructure assets, which could pose a financial risk.
- Energy margins have been weaker in recent quarters due to seasonal impacts and reconciliation challenges.
- There is uncertainty regarding the timeline for resolving past overdue collections from a major customer.
- The finance cost has increased, with fluctuations in finance income affecting net finance costs.
Good afternoon, ladies and gentlemen. I'm Sunita, the moderator for this conference. Welcome to the Indus Tower Limited second quarter ended September 30, 2024, earnings call. (Operator Instructions) In case of a natural disaster, the call will be terminated post an announcement.
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 discussion today may include certain forward-looking statements that must be viewed in conjunction with the risks that we face.
I now hand over the call to our first speaker of today, Mr. Prachur Sah. Thank you, and over to you, Mr. Sah.
Thank you, Sunita, 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 of Investor Relations.
I am pleased to present our business performance over the quarter ended September
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