Indus Towers starts earning revenue from Africa expansion

Passive telecom infrastructure provider Indus Towers has begun generating revenue from towers deployed in Zambia and Uganda in the September quarter and plans to start deployment in Nigeria this quarter, as its Africa expansion moves into its next phase.

The company’s early capital expenditure (capex) per tower remains within its planned levels, validating its cost model during the initial rollout, chief financial officer Abhishek Maheshwari said during the company’s second-quarter earnings call on Wednesday.