Indus Towers shares plunge 7 pc after Q3 loss

NewsDrum Desk
25 Jan 2023

New Delhi, Jan 25 (PTI) Shares of Indus Towers plunged more than 7 per cent on Wednesday after the company reported a consolidated loss of Rs 708.2 crore for the December quarter.

The scrip declined 7.36 per cent to close at Rs 157.95 apiece on the BSE. It also touched its 52-week low of Rs 155.50 per scrip.

On the NSE, it tumbled 7.19 per cent to end at Rs 158.20 per share.

In volume terms, 5.29 lakh shares were traded on the BSE and over 1.52 crore shares on the NSE during the day.

Indus Towers, the country's largest telecom infrastructure company, on Tuesday posted a consolidated loss of Rs 708.2 crore for the December 2022 quarter, mainly on account of doubtful recovery from Vodafone Idea.

It posted a profit of Rs 1,570 crore in the same period a year ago.

In the broader market, the 30-share BSE Sensex tumbled 773.69 points or 1.27 per cent lower to settle at 60,205.06 on Wednesday. PTI HG SHW

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