Indus Towers on Thursday reported a 38 per cent rise in consolidated net profit to 1,364 crore for the fourth quarter of FY21, and said digital transformation across sectors is driving new opportunities for shared infrastructure providers to usher in the next growth phase. The consolidated revenues stood at Rs 6,492 crore for the March 2021 quarter, up three per cent year-on-year, the telecom infrastructure player said in a statement.
For the full year ended March 31, 2021, consolidated profit after tax was Rs 4,975 crore, a dip of one per cent year-on-year, while revenues at Rs 25,673 crore was marginal 0.4 per cent higher, the statement added. "The net profit for the quarter was Rs 1,364 crore, up 38 per cent year on year," it said.
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Commenting on the Q4 scorecard, Bimal Dayal, Managing Director and CEO of Indus Towers (formerly Bharti Infratel) termed FY2021 as a "landmark year" for the company. "During the year, we completed the merger between Bharti Infratel and erstwhile Indus Towers. On the operational front, we continued our strong momentum in 4Q21 and delivered the highest ever annual gross tower additions," Dayal said.
In the backdrop of the pandemic, the company continues to work closely with customers to ensure seamless connectivity across the country, he added. "With the ongoing digital transformation across sectors, we see new opportunities for shared infrastructure providers like Indus Towers to usher in their next phase of growth," Dayal added.
It is pertinent to mention here that the merger of Bharti Infratel and Indus Towers to create a mega tower juggernaut was completed in November last year. The Q4 statement said that following the merger between Bharti Infratel and Indus Towers, effective November 19, 2020, the results filed under Regulation 33 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, are not comparable with the results disclosed prior to the effective date.
And so, Indus Towers has given proforma unaudited consolidated results, prepared assuming merger was effective from April 1, 2018, and hence, considered the effect of the merger since then as per pooling of interest method, the statement explained. The company's portfolio of over 1,79,000 telecom towers, makes it one of the largest tower infrastructure providers in the country with a presence in all 22 telecom circles. Indus Towers caters to all wireless telecommunication service providers in India.
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