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Indus Towers tanks 5%, hits over 2-year low on reporting net loss in Q3

The loss in the books was a result of adoption of stringent accounting practices by the Company due to continued shortfall in collections from one of the major customers, the company said.

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SI Reporter Mumbai
Shares of Indus Towers hit an over two-year low of Rs 162.80 as they slipped 5 per cent on the BSE in Wednesday’s intra-day trade after the company posted a net loss of Rs 708 crore in the third quarter (October-December) of financial year (Q3FY23), mainly due to provision for doubtful debt of Rs 2,201 crore and exceptional charge of Rs 493 crore.

The company had made a net profit of Rs 872 crore in September quarter (Q2FY23).

The loss in the books was a result of adoption of

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First Published: Jan 25 2023 | 9:44 AM IST

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