Indus Towers Limited has informed the Exchange regarding Quarterly Report for the fourth quarter (Q4) and financial year ended March 31, 2025
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Indus Towers reported FY25 revenue of Rs 301,228 Mn, up 5.3% YoY, with EBITDA surging 41.9% to Rs 208,447 Mn as margins expanded sharply to 69.2% from 51.4%. Profit after tax grew 64.5% YoY to Rs 99,317 Mn. Q4 revenue rose 7.4% to Rs 77,271 Mn, but Q4 PAT dipped 4% to Rs 17,791 Mn due to nearly 3x higher finance costs (Rs 3,597 Mn). The company turned net cash positive (Rs 8,734 Mn, excluding lease liabilities) and generated Rs 98,485 Mn in free cash flow for the year, up from just Rs 1,817 Mn in FY24. Tower base grew to 249,305 macro towers and 405,435 co-locations, including 10,380 towers and 2,226 lean co-locations acquired from parent Bharti Airtel in March 2025.
Strong full-year performance with significant margin expansion, deleveraging, and a major tower acquisition from Bharti Airtel that consolidates the parent-subsidiary relationship. Short-term watch points: Q4 PAT decline from higher finance costs and the one-time CENVAT credit boost that inflated earlier quarters. Overall, results are positive for shareholders, supported by a Rs 1,281 Bn minimum lease receivable and 6.33-year weighted average contract life.