Indus Towers slides after reporting dismal Q3 earnings

Indus Towers slipped 4.52% to Rs 162.80 after the company reported a consolidated net loss of Rs 708.2 crore in Q3 FY23 as against a net profit of Rs 1,570.8 crore posted in Q3 FY22.

Revenue from operations stood at Rs 6,765 crore in the quarter ended 31 December 2022, down 2.34% from Rs 6,927.4 crore recorded in Q3 FY22.

The company reported a loss before exceptional item of Rs 459.3 crore from profit before exceptional item of Rs 2,088.9 crore posted in the same quarter a year ago. Exceptional item stood at Rs 492.8 crore in Q3 FY23.

During the quarter, the Group has taken impairment of the revenue equalization asset up to 30 September 2022 for this customer and shown the impact as an exceptional item in the statement of profit and loss. Further, the…

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