What should investors do with Indus Towers shares post-Q4 results? Check out share price target

Indus Towers share price today, Indus Towers share price target, Indus Towers Q4 Results: Shares of Indus Towers will remain on investors’ radar after telecom infrastructure company’s operationally good performance in fourth quarter ended March 2024.  

Indus Towers Q4 Results

The company reported around a 32 per cent jump in its consolidated net profit for the fourth quarter ended March 2024. It had registered a net profit of Rs 1,399.1 crore a year ago, as per the company’s regulatory filing.

The company’s consolidated revenue from operations grew 6.5 per cent to Rs 7,193.2 crore during the reported quarter against Rs 6,752.9 crore in the March 2023 quarter.

For the year ended March 31, 2024, Indus Towers posted close to a three-fold jump in consolidated profit to Rs 6,036.2 crore from Rs 2,040 crore at the end of the financial year (FY) 2023.

The annual revenue from operations of Indus Towers remained almost flat at Rs 28,600.6 crore during the reported fiscal compared to Rs 28,381.8 crore in FY23. Read more Indus Towers Q4 Results

Management Commentary

“The network expansion by a major customer and increase in our market share helped us deliver record tower additions, surpassing the milestone of 2,00,000 towers. On the financial front, we were pleased to see steady collections and part clearance of the over-dues.

“We expect the ongoing network expansion and 5G roll-outs, supplemented by the encouraging developments around a major customer’s fund raise to provide a fillip to our growth,” Indus Towers managing director and CEO Prachur Sah said.

Without naming Vodafone Idea (VIL), Indus Towers in its financial report mentioned that it has doubtful receivables of Rs 5,385.3 crore, comprising all overdue from the debt-ridden telecom firm as of March 31, 2024. Read more 

Indus Towers Q4 results review: Here’s what Anil Singhvi says

Zee Business Managing Editor Anil Singhvi highlighted the following key points: 

• Strong results
• Strong tower editions
• Good results already priced in
• The stock has already run up 52 per cent in three months
• Indus Towers futures have support at Rs 343 and a higher level at Rs 367

Indus Towers share price target: Here’s what brokerages say

JP Morgan has downgraded Indus Towers stock to neutral from overweight, however, the brokerage has raised the target price to Rs 340 from Rs 260.

(with PTI inputs)

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