Indus Towers Limited reported a 7.9% year-on-year increase in revenue to ₹32,493 crore for the financial year ended March 31, 2026. This growth was underpinned by healthy additions in its infrastructure portfolio, with the total tower count rising 5.9% to 277,911 and colocations increasing 5.4% to 442,058. Despite the top-line growth, the company’s net profit after tax (PAT) declined significantly by 28.1% to ₹7,145 crore, while EBITDA contracted by 13.8% to ₹17,976 crore.

The decline in profitability metrics is primarily attributed to a non-recurring item in the previous fiscal year. FY25 included a substantial writeback of ₹5,100 crore related to the collection of overdue receivables from a major customer. On a normalized basis, excluding this one-off gain, Indus Towers’ EBITDA grew by 11.4% and PAT increased by 13.0% compared to the prior year. The EBITDA margin stood at 55.3% in FY26, down from 69.2% in FY25.

What the Numbers Show

A critical divergence exists between the reported top-line growth and the bottom-line contraction. While revenue expanded by nearly 8%, the reported PAT fell by over a quarter. This discrepancy is entirely driven by the base effect of the ₹5,100 crore writeback in FY25. When this exceptional item is excluded, the underlying operational performance reveals double-digit growth in both EBITDA (11.4%) and PAT (13.0%), indicating that core business fundamentals remained robust despite the headline profit decline.

During the 20th Annual General Meeting held on August 19, 2026, shareholders approved the standalone and consolidated financial statements. The meeting also saw the re-appointment of Mr. Soumen Ray and Mr. Rajan Bharti Mittal as directors liable to retire by rotation. Additionally, members approved material related-party transactions with Bharti Airtel Limited.

The company highlighted its operational resilience, noting deployments in frontier areas and challenging terrains, including the Delhi-Dehradun highway and the Amarnath route. Indus Towers also emphasized its technological advancements, such as IoT-connected towers, AI-enabled field operations, and smart fuel management systems, aimed at improving efficiency and reducing carbon footprints.

In terms of corporate governance and sustainability, Indus Towers reported contributing ₹8,800 crore to the exchequer and maintaining a pre-tax Return on Capital Employed (RoCE) of 20.2%. The company continues its expansion into Africa, with entities and licenses in place for Nigeria, Uganda, and Zambia, targeting build-to-suit rollouts by mid-FY27.

A notable block trade was recorded on BSE involving Indus Towers , with approximately 16,75,000 shares transacted at a price of ₹388.50 per share. The total value of the block deal stood at ₹65.07 crore, signalling significant large-lot activity in the counter.

Block Trade Details

The following table summarises the key parameters of the block trade executed on BSE:

Block trades of this scale are typically executed by institutional investors or large stakeholders and are carried out outside the regular order book to minimise market impact. The transaction in Indus Towers underscores continued institutional interest in the telecom infrastructure sector.