The shares of telecom infrastructure providers gained up to 8 after the company’s net profit and revenue increased by 317 percent and 5 percent respectively YoY in the third quarter result.
With a market capitalization of Rs 62,805.51 crore, the shares of Indus Towers Ltd were trading at Rs 233.05 per share, increasing around 7.27 percent as compared to the previous closing price of Rs 217.25 apiece.
Looking into the company’s Performance, Indus Towers Ltd’s revenue decreased by 0.4 percent on a quarter-on-quarter basis from Rs.7,132 crores in Q2FY24 to Rs. 7,099 crores in Q3 FY24. Further, revenue increased by 5 percent year on year from Rs. 6,765 crores in Q3FY23 to Rs.7,099 crores in Q3FY24.
Indus Towers Ltd’s net profit increased by 19 percent on a quarter-on-quarter basis from Rs. 1,295 crores in Q2FY24 to Rs. 1,540 crores in Q3FY24. Further, net profit increased by 317 percent year on year from a loss of Rs. 708 crores in Q3FY23 to a profit of Rs.1,540 crores in Q3FY24.
The stock gave a 37.30 percent return in six months and a 36.49 percent return in a year. Indus Towers Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 9.71 percent and a return on capital employed (ROCE) of 11.3 percent.
The company’s portfolio contains 1,92,874 telecom towers, making it one of the largest tower infrastructure suppliers in the country, with operations in all 22 telecom circles. The firm is at the forefront of innovation in its industry, promoting smart digital infrastructure in India from the grassroots.
Indus Towers Ltd’s recent shareholding pattern, The Promoters of The company own 68.99 percent while Retail shareholders own a 3.18 percent stake in the company and Foreign Institutional Investors own a 20.71 percent stake.
Indus Towers Limited is in the business of installing, operating, and maintaining wireless communication towers.
Written by:- Abhishek Singh
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