Thursday, December 19, 2024 | 07:16 PM ISTEN Hindi

Home / Markets / News / Indus Towers tanks 5%, hits over 2-year low on reporting net loss in Q3

Indus Towers tanks 5%, hits over 2-year low on reporting net loss in Q3

The loss in the books was a result of adoption of stringent accounting practices by the Company due to continued shortfall in collections from one of the major customers, the company said.

Premium

SI Reporter Mumbai

3 min read Last Updated : Jan 25 2023 | 9:44 AM IST

Shares of Indus Towers hit an over two-year low of Rs 162.80 as they slipped 5 per cent on the BSE in Wednesday’s intra-day trade after the company posted a net loss of Rs 708 crore in the third quarter (October-December) of financial year (Q3FY23), mainly due to provision for doubtful debt of Rs 2,201 crore and exceptional charge of Rs 493 crore.

The company had made a net profit of Rs 872 crore in September quarter (Q2FY23).
The loss in the books was a result of adoption of

Topics : Buzzing stocks Vodafone Indus Towers Vodafone Idea Q3 results Telecom stocks Telecom tower industry Markets Sensex Nifty stock market trading

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in