Indus Towers shares plunge after Q1 net profit slumps

New Delhi: Shares of Indus Towers fell nearly 7% in opening trade on Wednesday after it reported a 66% on-year and 73.6% sequential decline in net profit, on account of receivables due to the company from one of its major customers.

Shares of the telecom tower company – among the world’s largest – were down 5% at Rs208.25 in early trade Wednesday.