Indus Towers Q1 Results: Profit falls 9% on-year to ₹1,737 crore amid rising expenses

Indus Towers on Wednesday reported a 9.8% on-year fall in first-quarter net profit to ₹1,737 crore due to an increase in power and fuel expenses, employee benefit expenses and repair and maintenance costs.

Profit after tax for the June quarter fell despite an ₹88 crore writing back provisions made against doubtful receivables from cash-strapped Vodafone Idea, one of its anchor customers.

The passive infrastructure company, which is now a subsidiary of Bharti Airtel, reported a 9.1% on-year increase in revenue to ₹8,058 crore.