Indus Towers consolidated profit up 16% at Rs 1,571 crore in Q3

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Telecom infrastructure company Indus Towers on Thursday posted about 16 per cent rise in consolidated profit at Rs 1,570.8 crore for December quarter 2021-22.

The company had registered a profit after tax of Rs 1,360 crore for the same period a year ago.

Revenue of the country's largest mobile tower firm was higher at Rs 6,927 crore during the quarter compared to Rs 6,736 crore in the corresponding period of 2020-21.

"At Indus Towers, the quarter marked completion of a year of operations of the merged entity which has made our industry leadership positioning more robust.

"Our steady operational and financial performance during the quarter was reassuring. We believe that our focus to promote passive infrastructure sharing and capitalize on adjacencies will help us further strengthen our commitment of Putting India First through connecting lives," MD and CEO Bimal Dayal said.

Indus Tower merged with Bharti Infratel in November 2020. The company's total mobile tower base increased to 1,84,748 from 1,75,510 on a year-on-year basis.

The net debt on the company with lease liabilities increased to Rs 19,135 crore from Rs 14,197 crore.