Indus Towers sees upside from SC relief to Vi; eyes Africa foray in 6 months

A lifeline may finally be on the horizon for India’s debt-laden telecom sector. Bharti Airtel’s tower arm Indus Towers on Tuesday welcomed the Supreme Court’s order permitting the government to reassess adjusted gross revenue (AGR) dues, a move that analysts say could ease it key customer Vodafone Idea’s burden and, by extension, improve its own risk outlook and valuation, and bolster the sector’s overall prospects.

Indus Towers managing director and chief executive officer Prachur Sah called the development “a good sign for the industry,” while reiterating that decisions on dividend payouts remain scheduled for the March quarter.