Vodafone Idea: Indus Towers’ trade receivables to take more time to stabilise

Indus Towers’ top management expects the company’s trade receivables will take some more time to stabilise as it hinges on the speed at which key customer, Vodafone Idea (Vi) clears its backlog of past dues.

Indus’ trade receivables fell 11.3% sequentially to around Rs 5,722 crore in the fiscal first quarter amid improved collections from Vi.

“Stability on trade receivables can be expected a few months down the line, but we can’t give a concrete timeline yet as discussions are still ongoing with our key customer (read: Vi) on finalisation of its payment plan for full clearance of past overdues,” Indus chief financial officer Vikas Poddar said on the tower company’s June quarter earnings call Wednesday.