Indus shares slump as Vodafone Idea woes hit Q2

Kolkata: Indus Towers shares initially fell over 3% on Friday morning on BSE, a day after the telecom tower company said it had made a provision of Rs 1,770.9 crore in the fiscal second quarter towards doubtful debt — a sharp 43% sequential rise — as the telecom infrastructure provider is yet to receive payment from a key customer. The customer is believed to be Vodafone Idea (Vi).

Indus Towers shares were subsequently trading at Rs 187.30, down 1.94% on BSE around noon.