Telecom infrastructure major Indus Towers on Thursday posted a 34 per cent increase in its consolidated profit after tax at Rs 1,829 crore in the quarter ended March 2022.
The company had registered Profit After Tax (PAT) at Rs 1,364 crore in the same period a year ago, Indus Towers said in a statement.
The revenue increased by 10 per cent to Rs 7,116 crore during the reported quarter from Rs 6,492 crore in the March 2021 quarter. For the financial year ended on March 31, 2022, Indus Towers’ PAT increased by about 28 per cent to Rs 6,373.1 crore as compared to Rs 4,975.1 crore in FY21.
The annual revenue of Indus Towers grew by about 8 per cent to Rs 27,717.2 crore in 2021-22 from Rs 25,672.9 crore a year ago. "Looking back on FY22, team Indus did a commendable job by culminating a merger of such scale while fighting the pandemic and natural disasters. Despite all the challenges, Indus Towers delivered a robust financial performance and a sustained operational performance," Indus Towers managing director and CEO Bimal Dayal was quoted as having said in the statement.He said the recent progressive steps taken by the government, and its thrust on 5G technology will accelerate the industry. "Indus Towers remains fully committed to support its customers in enabling 5G connectivity across India,” Dayal said. The company added 6,222 new mobile towers on a year-on-year basis to take the total number to 1,85,447 units.