{"id":135247,"date":"2022-10-28T08:02:27","date_gmt":"2022-10-28T12:02:27","guid":{"rendered":"https:\/\/44.250.171.167\/?p=135247"},"modified":"2022-10-28T08:02:29","modified_gmt":"2022-10-28T12:02:29","slug":"indus-tower-q2fy23-results-out-net-profit-plummets-by-44","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/indus-tower-q2fy23-results-out-net-profit-plummets-by-44\/","title":{"rendered":"Indus Tower Q2FY23 results out: Net profit plummets by 44%"},"content":{"rendered":"\n<p class=\"has-text-align-justify\">On Thursday, Indus Tower reported a weak financial performance for the September quarter which can be attributed to collection challenges faced by the company from its clients. In the September quarter, the company\u2019s consolidated net profit fell 44% year-on-year to INR 872 crore, whereas its revenue from operations rose 16% y-o-y to INR 7,967 crore. Sequentially, the company\u2019s net profit rose 83%, whereas revenue rose 15.5%.<\/p>\n\n\n\n<p class=\"has-text-align-justify\">On a y-o-y basis, the fall in net profit was due to provision of doubtful debts amounting to INR 1,771 crore made by the company during the quarter. While the company did not name the company for which it has created the bad debt provision, it is likely for one of its key customers \u2014 Vodafone Idea \u2014 which owes it about 7,000 crore. In the preceding quarter too, the company made a one-time provision for doubtful debts worth INR 1,230 crore. Vodafone Idea has also asked Indus Towers for softer payment terms and proposed to pay part of the amount to be billed till December 31, 2022, and 100% of the said amounts billed from January 2023.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-default\"><img loading=\"lazy\" decoding=\"async\" width=\"925\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/dce7602c-1968-4706-b4a7-70d253a603c6-925x1024.png\" alt=\"\" class=\"wp-image-135245\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/dce7602c-1968-4706-b4a7-70d253a603c6-925x1024.png 925w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/dce7602c-1968-4706-b4a7-70d253a603c6-271x300.png 271w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/dce7602c-1968-4706-b4a7-70d253a603c6-768x850.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/dce7602c-1968-4706-b4a7-70d253a603c6-1388x1536.png 1388w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/dce7602c-1968-4706-b4a7-70d253a603c6-1851x2048.png 1851w\" sizes=\"auto, (max-width: 925px) 100vw, 925px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-justify\">The company\u2019s EBITDA fell by 23% on Y-o-Y basis. The margins expanded by 160 basis points sequentially, which can be attributed to increase in revenues. Owing to weak collections from the clients, operating cash flows in the September quarter fell 39% y-o-y to INR 1,277 crore.<\/p>\n\n\n\n<p class=\"has-text-align-justify\">In its board meeting, the company also approved raising of up to INR 2,000 crore by way of issuance of non-convertible debentures (NCDs) in one or more tranches on private placement basis, it said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Thursday, Indus Tower reported a weak financial performance for the September quarter which can be attributed to collection challenges faced by the company from its clients. In the September quarter, the company\u2019s consolidated net profit fell 44% year-on-year to INR 872 crore, whereas its revenue from operations rose 16% y-o-y to INR 7,967 crore. [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":49407,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,392,8],"tags":[10152,10514,10193],"class_list":["post-135247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-earnings","category-technology-stocks","tag-jio","tag-telecom-tower","tag-vodafone"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":142850,"url":"https:\/\/alphastreet.com\/india\/earnings-summary-of-indus-tower-limited-for-q3-fy23\/","url_meta":{"origin":135247,"position":0},"title":"Earnings Summary Of Indus Tower Limited For Q3 FY23","author":"Hardik Bhandare","date":"February 27, 2023","format":false,"excerpt":"Indus Towers (NSE: INDUSTOWER) is a telecom tower infrastructure company in India. It was founded in 2007 and is headquartered in Gurgaon. Indus Towers is jointly owned by Bharti Infratel, Vodafone Idea and Providence Equity Partners. The company's main business is to own and operate telecom tower infrastructure and lease\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":132201,"url":"https:\/\/alphastreet.com\/india\/infographic-indus-towers-shares-fell-sharply-after-q1-profit-slumps-net-profit-down-by-66\/","url_meta":{"origin":135247,"position":1},"title":"Infographic: Indus Towers shares fell sharply after Q1 profit slumps, Net Profit down by 66%","author":"Chirag Gupta","date":"August 3, 2022","format":false,"excerpt":"Consolidated net profit fell by 66 percent year-on-year to Rs 477 crore in the quarter as topline grew merely three percent to Rs 6,897 crore and operating profit shrank 36 percent to Rs 2,262 crore. Operating cash flow tanked 60 percent to Rs 807 crore reflecting the impact of non-payment\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":142381,"url":"https:\/\/alphastreet.com\/india\/vodafone-idea-net-loss-widened-to-inr-7990-crores-in-q3fy23\/","url_meta":{"origin":135247,"position":2},"title":"Vodafone Idea net loss widened to INR 7990 Crores in Q3FY23","author":"Chirag Gupta","date":"February 21, 2023","format":false,"excerpt":"Telecom firm Vodafone Idea's net loss widened to INR 7,990 crore in the quarter ended December 31, 2022 as against INR 7,595.5 crore in the year-ago period. The company's revenue rose 9% to INR 10,621 crore in Q3FY23 as compared to INR 9,717 crore in Q3FY22. ARPU (average revenue per\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/2f59dc92-1a34-4299-8a7d-49ea1998b088.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/2f59dc92-1a34-4299-8a7d-49ea1998b088.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/2f59dc92-1a34-4299-8a7d-49ea1998b088.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/2f59dc92-1a34-4299-8a7d-49ea1998b088.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/2f59dc92-1a34-4299-8a7d-49ea1998b088.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/2f59dc92-1a34-4299-8a7d-49ea1998b088.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":135007,"url":"https:\/\/alphastreet.com\/india\/tata-consumer-products-ltd-reported-its-q2fy23-earnings-net-profit-up-by-36\/","url_meta":{"origin":135247,"position":3},"title":"Tata Consumer Products Ltd reported its Q2FY23 earnings: Net profit up by 36%","author":"Chirag Gupta","date":"October 21, 2022","format":false,"excerpt":"On Thursday, Tata Consumer Product Ltd (TCPL) reported a 36.25 per cent rise in consolidated net profit at INR 389.43 crore for the second quarter. While, revenue from operations rose by 10.87 per cent to INR 3,363.05 crore during the quarter under review as against INR 3,033.12 crore in the\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":140669,"url":"https:\/\/alphastreet.com\/india\/tci-express-q3fy23-net-profit-plummeted-by-9-to-inr-32-crore\/","url_meta":{"origin":135247,"position":4},"title":"TCI Express Q3FY23 net profit plummeted by 9% to INR 32 crore","author":"Chirag Gupta","date":"February 9, 2023","format":false,"excerpt":"Express logistics firm TCI Express posted 8.57 per cent drop in net profit to INR 32 crore for the quarter ended December 30, 2022. The consolidated net profit of the company in the year-ago period stood at INR 35 crore, according to a regulatory filing. The company\u2019s total income from\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":141349,"url":"https:\/\/alphastreet.com\/india\/vinati-organics-q3fy23-net-profit-soars-by-51\/","url_meta":{"origin":135247,"position":5},"title":"Vinati organics Q3FY23 net profit soars by 51%","author":"Chirag Gupta","date":"February 13, 2023","format":false,"excerpt":"Vinati Organics rose 1.55% to INR 1,895 after the company's consolidated net profit surged 50.68% to INR 125.41 crore in Q3 FY23 as against INR 83.23 crore posted in Q3 FY22. Revenue from operations stood at INR 508.66 crore in the quarter ended 31 December 2022 from INR 368.95 crore\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=135247"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135247\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/49407"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=135247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=135247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=135247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}