Indus Towers' Q1 FY26 PBT dropped 10% YoY despite 9.1% revenue growth and continued tower network expansion.

• EBITDA fell 3.4% YoY to Rs 4,390.1 crore with margin declining to 54.5% from 61.6% in Q1 FY25.
• Operating expenses rose 29.2% YoY; power and fuel formed 84% of total, growing modestly by 5.8%.
• Tower base hit 2,51,773 with 5,777 new co-locations; AFFO declined 15.9% YoY to Rs 2,840 crore.