Indus Towers, the telecom tower subsidiary of Bharti Airtel, has raised concerns about supply risks stemming from the ongoing conflict in West Asia, which is affecting the availability of liquefied petroleum gas (LPG), a critical input for tower manufacturing. Managing Director Prachur Sah noted that disruptions in LPG supply could lead to slower tower production, delayed rollouts, and increased costs. In FY26, fuel and power expenses reached ₹11,996 crore (approximately $1.45 billion USD), accounting for 37% of the company's annual revenue of ₹32,493 crore (around $3.93 billion USD). In the December quarter, Indus Towers reported a 4.8% year-on-year revenue increase to ₹8,101 crore (about $980 million USD), with a net profit of ₹1,793 crore (approximately $215 million USD). The company also highlighted its expansion efforts in Africa, with plans for capital expenditure between $200 million and $300 million USD as it secures operating licenses in countries like Zambia, Uganda, and Nigeria. Despite a strong order book, the company is cautious about potential tenancy losses from major clients, particularly Jio, which may affect future revenue growth.