Financial Performance Summary

Indus Towers Limited announced its audited consolidated financial results for the first quarter ended June 30, 2026 (Q1 FY2026).

Revenue Performance:

  • Consolidated Revenue: Rs. 8,431 Crores, up 4.6% Year-over-Year (from Rs. 8,058 Crores in Q1 FY2025)

Profitability Metrics:

  • Consolidated EBITDA: Rs. 4,521 Crores, up 3.0% Year-over-Year (from Rs. 4,390 Crores in Q1 FY2025)
  • EBITDA Margin: 53.6%
  • Consolidated Profit After Tax: Rs. 1,746 Crores, up 0.5% Year-over-Year (from Rs. 1,737 Crores in Q1 FY2025)
  • Profit Before Tax: Rs. 2,352 Crores, up 0.8% Year-over-Year
  • EBIT: Rs. 2,589 Crores, down 2.1% Year-over-Year

Cash Flow Indicators:

  • Operating Free Cash Flow: Rs. 1,781 Crores, up 23.4% Year-over-Year (from Rs. 1,444 Crores in Q1 FY2025)
  • Adjusted Fund From Operations (AFFO): Rs. 2,987 Crores, up 5.2% Year-over-Year (from Rs. 2,840 Crores in Q1 FY2025)

Return Ratios:

  • Return on Equity (Pre-Tax): 25.4% (declined from 40.8% Year-over-Year)
  • Return on Equity (Post-Tax): 18.9% (declined from 30.8% Year-over-Year)
  • Return on Capital Employed: 19.9% (declined from 28.1% Year-over-Year)

Operational Metrics

Tower & Co-Location Base (as of June 30, 2026):

  • Total Macro Towers: 267,611, up 6.3% Year-over-Year (15,838 towers added)
  • Total Co-Locations: 432,250, up 5.1% Year-over-Year (21,038 co-locations added)
  • Quarter-over-Quarter Growth: 3,097 towers and 4,236 co-locations added

Key Operational Indicators:

  • Average Sharing Factor: 1.62 times (consistent quarter-over-quarter, down from 1.63 Year-over-Year)
  • Closing Sharing Factor: 1.62 times
  • Sharing Revenue per Tower per Month: Rs. 66,416, down 0.9% Year-over-Year
  • Sharing Revenue per Sharing Operator per Month: Rs. 41,082, down 0.1% Year-over-Year

Management Commentary

Prachur Sah, Managing Director and CEO of Indus Towers Limited, stated:

  • The company delivered a resilient performance despite supply chain disruptions arising from geopolitical developments
  • Performance was supported by customer-led network expansion, disciplined cost management, and strong cash flow generation
  • Investments are being made in digital transformation, AI-led capabilities, and energy management to strengthen operational agility, productivity, and service delivery
  • International expansion is progressing well with licenses secured across all three target markets in Africa
  • The company remains on track to commence rollouts in African markets in 2026
  • The company believes its differentiated value proposition, execution excellence and technology-led approach position it well to capitalize on growth opportunities from rising demand for digital infrastructure

Additional Financial Notes

  • Q1 FY2026 included a write back of Rs. 88 Crores in provision for doubtful receivables, aided by collections against past overdue
  • Revenue, EBITDA, EBIT, Operating free cash flow and Adjusted Fund from Operations (AFFO) metrics exclude other income
  • Operating Free Cash Flow is defined as EBITDA adjusted for capex and repayment of lease liabilities
  • Adjusted Fund from Operations is defined as EBITDA adjusted for Maintenance capex and repayment of lease liabilities

Company Background

Indus Towers Limited is India's leading provider of passive telecom infrastructure, deploying, owning and managing telecom towers and communication structures for various mobile operators. The company's portfolio of 267,611 telecom towers makes it one of the largest tower infrastructure providers in the country with presence in all 22 telecom circles. The company caters to all wireless telecommunication service providers in India and has been an industry pioneer in adopting green energy initiatives for its operations.