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Interest on dues from Vodafone Idea boosted Indus profits: Analysts

Indus Towers recorded strong profits in Q3FY24, with a 94.5% sequential increase in other income to Rs 602 crore. This was due to an additional Rs 300 crore interest income from Vi, in addition to the Rs 300 crore collected towards past dues. Analysts believe Indus Towers profits in the December quarter was boosted by Vodafone Idea.

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Interest on dues from Vodafone Idea boosted Indus profits: Analysts, ET Telecom

Indus Towers: As per Citi Research, after the latest payments, Vi’s old dues to Indus is now at Rs 5,700 crore. But, industry insiders, said this is most likely excluding the interest component on the past dues. Indus did not immediately respond to ET’s query on the total interest component on Vi’s backlog of past dues.

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Vodafone Idea Pays Rs 300 Crore Dues To Indus Towers

There is optimism within Indus Towers about formulating a robust plan to collect the remaining outstanding dues from the financially strained telecom operator, , Vodafone Idea (VIL), indus towers, Indian telecom sector

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Indus Towers Q3 Earnings: Indus Towers reports Rs 1,541 crore net profit in Q3FY24, ET Telecom

Indus, though, flagged continued recovery challenges from another key customer (read: Vodafone Idea), saying the latter’s funding plan had still not materialised and it had not made the committed payments pertaining to the outstanding amount due as at December 31, 2022.

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Indus Towers net profit up 19% QoQ to Rs 1,541 crore in Oct-Dec

Indus Towers net profit up 19% QoQ to Rs 1,541 crore in Oct-Dec
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