The company continues to benefit from an “insatiable” demand for data among telecom operators and geographies, said Bimal Dayal, chief executive and CEO of Indus Towers, during the second quarter earnings call for the company. ‘exercise 22.
Calling the government’s recently unveiled telecommunications sector reform program as one of the notable highlights, Dayal said he had instilled “a huge amount of optimism around the industry with the risk of an operator. 2 + 1… which could drop considerably “. .
The structure of the package itself underscores a clear intention on the part of the government to play a facilitating role in the growth of the sector and to steer it towards the 5G era as well, he said.
“The second quarter has been good for the industry. The Telecom backup plan was the highlight. We believe the next quarter will have a very good impact on Fineline and the details of this backup plan and we look forward to it. of that, “he said.
The company will soon share its growth-oriented strategy, as the overhang of any further consolidation in the industry is significantly reduced.
“… this will focus on how we are going to enter growth over the next few quarters and years to come. This is one of the exciting things that we certainly want to share with you as soon as possible,” Dayal said.
Indus Towers on Monday posted an almost 38% year-over-year increase in consolidated net income for the September 2021 quarter, to around Rs 1,559 crore.
Consolidated revenues of Indus Towers (formerly Bharti Infratel) in the quarter just ended in September stood at Rs 6,877 crore, up around 8% year-on-year.
The telecommunications sector as such has a boost with the government recently approving a highly successful aid plan that includes a four-year hiatus for companies from paying statutory dues, permission to share rare airwaves , a change in the definition of income from which deductions are made. are paid and 100 percent of foreign investment through the automatic channel.
The measures, aimed at relieving telecommunications service providers such as Vodafone Idea, which have to pay thousands of crore in unfunded past statutory contributions, also include the removal of spectrum usage charges (SUC) for airwaves acquired during the period. future spectrum auctions.
Telecom operators like Bharti Airtel and Vodafone Idea have already announced that they will opt for the four-year moratorium on the payment of contributions. The moratorium is expected to release cash flow to the tune of thousands of crore for telecom operators.