“The funding plan of the said customer (read: Vi) has not materialised till the current quarter, and the said customer has indicated challenges in making committed payments pertaining to outstanding amounts due as at December 31, 2022,” Indus Towers said.
The company reported strong tower additions and reduced finance costs, even though its key customer, Vodafone Idea (Vi) cited challenges in clearing its massive past dues. In a statement Wednesday, Indus managing director Prachur Sah said the tower company had recorded the highest quarterly tower additions in the companys history, outdoing the previous quarters performance on this metric.