Indus Towers Q2 profit falls 17% YoY to ₹1,839 cr on one-time accounting impact

Indus Towers on Monday reported a 17.3% on-year fall in net profit to ₹1,839.3 crore for the quarter to September due to an adjustment from a one-time accounting last year, reflecting steady collection of past overdue from one of its major customers, Vodafone Idea.

Profit after tax was also dragged by an increase in fuel and lower operating profits, despite strong tower additions and collections against past overdue from cash-strapped Vi. Sequentially, net profit was up 5.9% from ₹1,736.8 crore in the June quarter.