Indus Towers Q1 Results: Net profit up 43%, to buy back shares worth Rs 2,640 cr

New Delhi: Indus Towers reported a 43% on-year jump in net profit to Rs 1,926 crore for its fiscal first quarter, on the back of strong tower additions from Bharti Airtel’s 5G rollout and continued collection of past overdues from Vodafone Idea (Vi).

The tower company also approved a buyback of 56.7 million equity shares at a price of Rs 465 per share, representing 2.107% of the total number of shares of the company, for Rs 2,640 crore, Indus said in a stock exchange filing Tuesday.