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Indus Towers Profit Drops to ₹71.4B in FY2026

April 30, 2026 4 mins read Firehose Gupta

Indus Towers Limited — quarter and year ended March 31, 2026

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Particulars Quarter ended March 31, 2026 Audited Quarter ended December 31, 2025 Audited Quarter ended March 31, 2025 Audited Year ended March 31, 2026 Audited Year ended March 31, 2025 Audited
Income
Revenue from operations (refer note 5) 81,010 81,463 77,271 324,931 301,228
Other income 1,552 1,538 917 4,770 3,458
Total income 82,562 83,001 78,188 329,701 304,686
Expenses
Cost of materials consumed 46 26 38 93 38
Power and fuel 28,883 29,517 28,266 119,956 114,450
Employee benefit expenses 2,307 2,291 2,203 8,782 8,414
Repairs and maintenance 3,702 3,507 3,374 14,671 14,410
Other expenses (refer note 4) 1,429 1,037 (562) 1,673 (44,531)
Total expenses 36,367 36,378 33,319 145,175 92,781
Profit before depreciation and amortisation, finance costs, finance income, charity and donation and tax 46,195 46,623 44,869 184,526 211,905
Depreciation and amortisation expenses 18,563 18,186 17,136 72,203 64,899
Less: adjusted with general reserve in accordance with the scheme of arrangement (185) (207) (206) (795) (878)
18,378 17,979 16,930 71,408 64,021
Finance costs 4,689 4,870 4,791 18,930 18,579
Finance income (931) (835) (1,194) (3,414) (4,179)
Charity and donation 406 406 712 1,624 1,947
Profit before tax 23,653 24,203 23,630 95,978 131,537
Tax expense
Current tax 5,724 6,444 5,839 24,529 32,220
Current tax 4,578 5,713 4,402 20,913 17,405
Deferred tax 1,146 731 1,437 3,616 14,815
Profit for the period / year 17,929 17,759 17,791 71,449 99,317
Particulars Quarter ended March 31, 2026 Quarter ended December 31, 2025 Quarter ended March 31, 2025 Year ended March 31, 2026 Year ended March 31, 2025
Items that will not be re-classified to profit or loss
Remeasurement gain / (loss) of defined benefit plans (net) 27 – (24) (9) (40)
Tax impact on above (7) – 6 2 10
Items that will be re-classified to profit or loss
Exchange differences on translation of foreign operations 3 – – 3 –
Other comprehensive income / (loss) for the period / year (net of tax) 23 – (18) (4) (30)
Total comprehensive income for the period / year (net of tax)
Total comprehensive income for the period / year (net of tax) 17,952
17,759
17,773
71,445
99,287
Paid-up equity share capital (Face value Rs. 10 each) 26,381 26,381 26,381 26,381 26,381
Other equity 370,075 352,234 298,602 370,075 298,602
Quarter ended March 31, 2026 Quarter ended December 31, 2025 Quarter ended March 31, 2025 Year ended March 31, 2026 Year ended March 31, 2025
Basic (in Rs.) 6.80 6.73 6.75 27.09 37.31
Diluted (in Rs.) 6.80 6.73 6.75 27.09 37.31
Particulars As at March 31, 2026 Audited As at March 31, 2025 Audited
A Assets
Non-current assets
Property, plant and equipment 332,328 294,082
Right of use assets 162,331 149,337
Capital work-in-progress 6,301 5,672
Intangible assets 483 380
Financial assets
– Investment 104 –
– Other financial assets 15,503 14,653
Income tax assets (net) 7,723 8,561
Deferred tax assets (net) 10 23
Other non-current assets 33,194 29,696
Total Non-current assets 557,977 502,404
Current assets
Inventories 268 76
Financial assets
– Investments 43,052 14,861
– Trade receivables 49,393 47,675
– Cash and cash equivalents 473 1,497
– Other bank balances 15,050 17,064
– Other financial assets 40,810 38,839
Other current assets 6,138 9,286
Total Current assets 155,184 129,298
Total assets 713,161 631,702
B Equity and liabilities
Equity
Equity share capital 26,381 26,381
Other equity 370,075 298,602
Total Equity 396,456 324,983
Liabilities
Non-current liabilities
Financial liabilities
– Borrowings – 1,532
– Lease liabilities 175,294 163,257
– Other financial liabilities 4,047 3,978
Provisions 27,227 24,656
Deferred tax liabilities (net) 7,672 4,072
Other non-current liabilities 12,435 11,356
Total Non-current liabilities 226,675 208,851
Current liabilities
Financial liabilities
– Borrowings 9,209 21,092
– Lease liabilities 26,766 25,677
– Trade payable
   – Total outstanding dues of micro enterprises and small enterprises 675 453
   – Total outstanding dues to creditors other than micro enterprises and small enterprises 26,049 23,997
– Other financial liabilities 18,333 18,607
Other current liabilities 6,550 5,876
Provisions 979 843
Current tax liabilities (net) 1,469 1,323
Total Current liabilities 90,030 97,868
Total liabilities 316,705 306,719
Total equity and liabilities 713,161 631,702
Particulars Year ended March 31, 2026 (Audited) Year ended March 31, 2025 (Audited)
Cash flows from operating activities
Profit before tax 95,978 131,537
Adjustments for
Depreciation and amortisation expenses 71,408 64,021
Finance income (3,414) (4,179)
Finance costs 18,930 18,579
Profit on sale of property, plant and equipment (net) (3,431) (2,687)
Allowances for doubtful receivables and advances (net) (2,560) (50,771)
Revenue equalisation (4,733) (5,330)
Others (148) (371)
Operating profit before changes in assets and liabilities 172,030 150,799
Decrease / (increase) in other financial assets (4,609) (3,852)
Decrease / (increase) in other assets 4,435 (4,817)
Decrease / (increase) in inventories (192) (76)
Decrease / (increase) in trade receivables 977 67,700
Increase / (decrease) in other financial liabilities (904) (18)
Increase / (decrease) in provisions 242 182
Increase / (decrease) in other liabilities 2,005 3,030
Increase / (decrease) in trade payables 2,785 2,248
Cash generated from operations 176,769 215,196
Income tax paid (net of refunds) (19,929) (18,746)
Net cash flow from operating activities (A) 156,840 196,450
Cash flows from investing activities
Purchase of property, plant & equipment, intangible assets and capital work in progress (86,258) (67,840)
Proceeds from sale of property, plant & equipment 7,279 5,269
Investment in mutual funds (net) (26,859) (14,147)
Consideration paid for acquisition of passive infrastructure business undertaking by way of slump sale – (18,288)
Investment in equity instruments (104) –
Proceeds from sale of investment in equity instruments – 28
Interest received 1,971 2,841
Proceeds from / (investment in) bank deposits and restricted balances with banks (net) 1,988 (16,968)
Net cash flow used in investing activities (B) (101,983) (109,105)
Cash flows from financing activities
Repayment of long-term borrowings (12,279) (13,070)
Repayment of short-term borrowings (net) (1,139) (7,437)
Purchase of treasury shares (263) (258)
Payment for buyback of equity shares – (26,400)
Transaction costs and tax paid related to buyback of equity shares – (1,087)
Interest paid (17,076) (16,722)
Repayment of principal portion of lease liabilities (25,131) (21,513)
Proceeds from exercise of stock options 7 8
Net cash flow used in financing activities (C) (55,881) (86,479)
Net (decrease) / increase in cash and cash equivalents during the year (A+B+C) (1,024) 866
Cash and cash equivalents at the beginning of the year 1,497 631
Cash and cash equivalents at the end of the year 473 1,497
Particulars Quarter ended March 31, 2026 Quarter ended December 31, 2025 Quarter ended March 31, 2025 Year ended March 31, 2026 Year ended March 31, 2025
Revenue from operations 81,010 81,463 77,271 324,931 301,228
Profit before tax 23,601 24,182 23,595 95,837 131,466
Profit after tax 17,894 17,744 17,765 71,348 99,223
Particulars Quarter ended Year ended
March 31, 2026 (Audited) December 31, 2025 (Audited) March 31, 2025 (Audited) March 31, 2026 (Audited) March 31, 2025 (Audited)
Income
Revenue from operations (refer note 5) 81,010 81,463 77,271 324,931 301,228
Other income 1,555 1,537 917 4,772 3,458
Total income 82,565 83,000 78,188 329,703 304,686
Expenses
Cost of materials consumed 46 26 38 93 38
Power and fuel 28,883 29,517 28,266 119,956 114,450
Employee benefit expenses 2,301 2,291 2,203 8,775 8,413
Repairs and maintenance 3,702 3,507 3,374 14,671 14,410
Other expenses (refer note 4) 1,496 1,062 (522) 1,845 (44,438)
Total expenses 36,428 36,403 33,359 145,340 92,873
Profit before depreciation and amortisation, finance costs, finance income, charity and donation and tax 46,137 46,597 44,829 184,363 211,813
Depreciation and amortisation expenses 18,558 18,182 17,131 72,183 64,878
Less: adjusted with general reserve in accordance with the scheme of arrangement (185) (207) (206) (795) (878)
18,373 17,975 16,925 71,388 64,000
Finance costs 4,689 4,870 4,791 18,930 18,579
Finance income (932) (836) (1,194) (3,416) (4,179)
Charity and donation 406 406 712 1,624 1,947
Profit before tax 23,601 24,182 23,595 95,837 131,466
Tax expense 5,707 6,438 5,830 24,489 32,243
Current tax 4,561 5,706 4,402 20

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