Telecom infrastructure firm Indus Towers on Thursday (July 25) announced that its board of directors will consider a proposal for the buyback of fully paid-up equity shares during the scheduled board meeting on July 30, 2024.

The last time Indus Towers had carried out a share buyback was back in June 2016, when the company was known as Bharti Infratel.

“To consider and approve the proposal for buyback of fully paid-up equity shares of ₹10/- each of the company, including matters related/ incidental thereto, (Buyback) in accordance with the applicable provisions under the Companies Act, 2013, the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018,” according to a stock exchange filing.

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The proposed buyback involves equity shares of ₹10 each and includes related and incidental matters.

Indus Towers reported a 32.5% year-on-year increase in net profit at ₹1,853.1 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Indus Towers posted a net profit of ₹1,399.1 crore.

The company’s revenue from operations increased 6.5% to ₹7,193.2 crore as against ₹6,752.9 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA rose 19% to ₹4,102.6 crore in the fourth quarter of this fiscal over ₹3,446.6 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 57% in the reporting quarter as compared to 51% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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The Return on Equity (Pre-Tax) improved to 33.7% as against 12.8% on a year-on-year basis [Return on Equity (Post Tax) improved to 25.1% as against a 9.4% year-on-year basis]. The Return on Capital employed improved to 19.4% as against 11.0% on a year-on-year basis.

Shares of Indus Towers Ltd ended at ₹424.80, down by ₹1.75, or 0.41% on the BSE.