Indus Towers Posts Q1 Results: Revenues Rise by 4.6% Amid Network Expansion
Indus Towers Limited announced its audited consolidated results for the first quarter (Q1) ended June 30, 2026, highlighting a steady performance driven by continued network rollouts and strong cash generation, despite global supply chain disruptions.The company reported Consolidated Revenues at Rs. 8,431 Crores for the quarter, marking a 4.6% rise year-on-year (Y-o-Y). Consolidated EBITDA stood at Rs. 4,525 Crores, increasing by 3.1% Y-o-Y, achieving an EBITDA margin of 53.6%. Net profit after tax for the quarter was Rs. 1,749 Crores, up 0.7% compared to the same period last year.
Key operational metrics showed expansion in infrastructure base. The total tower base reached 267,611, an increase of 6.3% Y-o-Y. The total co-location base stood at 432,250, showing a growth of 5.1% Y-o-Y.
Financial Performance Summary
The company's financial health was further reflected by Operating Free Cash Flow and Adjusted Fund From Operations (AFFO). Operating Free Cash Flow reached Rs. 1,781 Crores from Rs. 1,444 Crores in the previous year, a jump of 23.4%. AFFO stood at Rs. 2,987 Crores, showing an increase of 5.2% compared to Rs. 2,840 Crores in the prior corresponding quarter.The company also noted that Q1 FY26 included a write back of Rs. 88 Crores pertaining to provision for doubtful receivables, which was aided by collections against past overdue accounts. Returns on Equity (Pre-Tax) and Return on Capital Employed saw changes Y-o-Y, with ROE (Post Tax) declining to 18.9% from 30.8%.
A summary of the consolidated income statement for Indus Towers, excluding overseas subsidiaries, is provided below:
| Particulars | Jun-26 (Rs. Crores) | Jun-25 (Rs. Crores) | Y-on-Y Growth |
|---|---|---|---|
| Revenue | 8,431 | 8,058 | 4.6% |
| EBITDA | 4,525 | 4,390 | 3.1% |
| EBIT | 2,589 | 2,645 | -2.1% |
| Profit/(Loss) before Tax | 2,352 | 2,334 | 0.8% |
| Profit/(Loss) after Tax | 1,749 | 1,737 | 0.7% |
| Operating Free Cash Flow | 1,781 | 1,444 | 23.4% |
| Adjusted Fund From Operations (AFFO) | 2,987 | 2,840 | 5.2% |
Operational Base Metrics
The growth in the operational base demonstrates the company's expanding footprint. The detailed parameters for towers and co-locations are as follows:| Parameters | Unit | Jun 30, 2026 | Mar 31, 2026 | Q-on-Q Growth | Jun 30, 2025 | Y-on-Y Growth |
|---|---|---|---|---|---|---|
| Towers | Nos | 2,67,611 | 2,64,514 | 3,097 | 2,51,773 | 15,838 |
| Co-locations | Nos | 4,32,250 | 4,28,014 | 4,236 | 4,11,212 | 21,038 |
| Average Sharing Factor | Times | 1.62 | 1.62 | - | 1.63 | - |
| Closing Sharing Factor | Times | 1.62 | 1.62 | - | 1.63 | - |
| Sharing Revenue per Tower p.m. | Rs | 66,416 | 66,604 | -0.3% | 67,036 | -0.9% |
| Sharing Revenue per Sharing Operator p.m. | Rs | 41,082 | 41,078 | 0.0% | 41,132 | -0.1% |
| Lean Co-locations | Nos | 14,024 | 14,044 | (20) | 13,935 | 89 |
| Sharing Revenue per Sharing Operator p.m | Rs | 16,707 | 16,535 | 1.0% | 16,362 | 2.1% |
Management Commentary and Future Strategy
Prachur Sah, Managing Director and CEO of Indus Towers Limited, commented that the company delivered a resilient performance despite supply chain disruptions stemming from geopolitical developments. This resilience was supported by disciplined cost management, strong cash flow generation, and customer-led network expansion.Sah also highlighted ongoing investments in digital transformation, AI-led capabilities, and energy management, noting these efforts are strengthening operational agility and service delivery. Furthermore, the company is progressing well with its international expansion, having secured licenses across all three target markets in Africa and planning to commence rollouts in 2026.
Indus Towers Limited operates as a leading provider of passive telecom infrastructure in India, deploying, owning, and managing communication structures for various mobile operators. The Company has been cited as an industry pioneer in adopting green energy initiatives for its operations.
INDUSTOWER Stock Price Movement
Indus Towers Limited shares tumbled down 2.31% on Monday, closing at ₹387.4 after shedding ₹9.10 from its prior close. The stock recorded a volume of 3.92 million shares during the trading session as the market settled.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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