Telecom infrastructure major Indus Towers on October 27 reported a 17.3% year-on-year (YoY) decline in its consolidated net profit to ₹1,836.6 crore for the quarter ended September 30, 2025, compared to ₹2,223.5 crore in the same period last year. The company had posted a profit of ₹1,736.8 crore in the previous quarter (Q1 FY26), marking a 6% sequential increase.
Despite the drop in profit, total revenue grew 9.68% YoY to ₹8,188.2 crore, up from ₹7,465.3 crore in the corresponding quarter of the previous fiscal.
Indus Towers’ EBITDA stood at ₹4,613 crore, down 6% YoY, while its EBITDA margin came in at 56.3%. The company also reported a ₹195 crore writeback in provisions for doubtful receivables, supported by improved collections from overdue accounts.
In its filing, the company noted that a major customer, widely understood to be Vodafone Idea, continued to represent a significant portion of its revenue, trade receivables, and unbilled income. The customer, Indus said, is relying on support from the Department of Telecommunications (DoT) concerning the AGR issue, as well as equity and debt fundraising efforts to meet its obligations.
“The customer is paying an amount equivalent to the monthly billing to the Group. The Group continues to recognise revenue for services rendered; however, it does not recognise revenue equalisation asset from lease rentals due to the customer’s financial condition,” Indus clarified.
Commenting on the performance, Prachur Sah, Managing Director and CEO of Indus Towers, said,
“We are pleased to report another quarter of solid performance driven by healthy tower additions and the strengthening of our market presence. Our focus on cost efficiency continues to support profitability. The quarter also marked our strategic decision to foray into Africa, expanding our proven capabilities to high-potential international markets.”
Sah added that the company’s adoption of automation and AI will be crucial to boosting efficiency, scalability, and service quality, enabling long-term value creation for shareholders.
During the quarter, Indus Towers expanded its mobile tower base to 2,56,074, adding 26,416 towers over the past 12 months.
Shares of Indus Towers closed 3.31% higher at ₹373.5 on the NSE on October 27.
