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Vodafone Idea: Vodafone Idea pays Rs 300 crore of old dues to Indus Towers

Prior to the latest Rs 300 crore payment, Vis past dues to Indus were estimated upwards of Rs 10,000 crore as per industry estimates. Indus leadership, though, remained non-committal on dividend payouts amid improved collections from Vi, saying any board decision could be taken only by end-FY24, post-evaluation of collection trends and its impact on the tower companys free cash flow (FCF) situation.

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Vodafone Idea pays Rs 300 crore of old dues to Indus, Telecom News, ET Telecom

Vodafone Idea: Indus’ leadership, though, remained non-committal on dividend payouts amid improved collections from Vi, saying any board decision could be taken only by end-FY24, post-evaluation of collection trends and its impact on the tower company’s free cash flow (FCF) situation.

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Collections from Vodafone Idea improving: Indus Towers

Collections from Vodafone Idea improving: Indus Towers
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indus towers q3 earnings: Indus Towers Q3 Results: Company reports profit versus loss a year ago

Indus has flagged continued recovery challenges from another key customer (read: Vodafone Idea), saying the latters 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. The telecom tower companys net profit grew 19% sequentially, from Rs 1,295 crore in the fiscal second quarter to September 2023.

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Expect near 100% monthly payment to continue from Vodafone Idea, says Indus Towers, ET Telecom

Speaking at the company’s fiscal second quarter earnings call Thursday, Indus Towers chief executive Prachur Sah said the company has not written off any receivable from Vi and expects near 100% payment to continue going forward. Indus’s receivables increased by Rs 880 crore during the July-September quarter due to delay in payment by the cash-strapped operator but the amount has been cleared in October.

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