The shares of telecom infrastructure providers gained up to 4.3 percent after the company signed a memorandum of understanding with a subsidiary of NTPC for renewable energy-based power projects.
With a market capitalization of Rs 94,201.52 apiece, the shares of Indus Towers Ltd were trading at Rs 349.60 per share, increasing around 1.45 percent as compared to the previous closing of Rs 344.60 apiece.
According to the company filing, Indus Towers Ltd has signed a Memorandum of Understanding (MoU) with NTPC Green Energy, the subsidiary of NTPC to explore the joint development of grid-connected renewable energy-based power projects.
Moreover, Indus Towers Limited aims to expand its renewable energy portfolio in a phased manner to Giga Watt scale capacity, for its business operations spread across the country, as a part of its Net Zero commitments.
Looking into Indus Towers Ltd’s financials, the revenue increased by 5 percent, from Rs 6,765 crore in Q3 FY23 to Rs 7,099 crore in Q3 FY24. During the same period, net profit increased by 317 percent, from a loss of Rs 708 crore to a profit of Rs 1,540 crore.
The firm operates in all 22 telecom circles and boasts a portfolio of 1,92,874 telecom towers, making it one of the country’s major tower infrastructure suppliers. The company is leading the way in promoting smart digital infrastructure in India, starting at the grassroots level.
As of December 31, 2023, Indus Towers Limited operated roughly 211,775 towers and accommodated 360,679 co-locations across India’s 22 telecom circles.
The stock has delivered returns of 84.70 percent in the last six months and a multi-bagger return of 155.98 percent in a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 2.55 lakh in a year.
Indus Towers Limited builds, owns, and administers telecom towers and communication infrastructure for a variety of mobile providers. It provides tower, power, and space solutions, as well as smart cities, tower operations centers, and green technologies.
Written by:- Abhishek Singh
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