Indus Towers makes doubtful debt provision of Rs 17.71 billion in Q2 2022

Indus Towers has reportedly made a provision of Rs 17.71 billion towards doubtful debt in the second quarter of 2022-23, a sharp quarter-on-quarter rise of 43 per cent, as it is yet to receive payment from a key customer, which is understood to be Vodafone Idea Limited (Vi). The company has agreed to the customer’s proposal for softer payment terms. In its financial statements for the second quarter of 2022, the company stated that the potential loss of that significant customer, if it fails to continue as a going concern, or Indus Towers’ failure to get new clients could have an adverse effect on the company’s business.