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What is the story about?
Shares of Tata Communications Ltd. fell as much as 5% on Wednesday, January 21, after reporting its results for the October-December period.
Net profit for the period grew 55% from the same quarter last year to ₹365.3 crore. Majority of the growth in the company's profitability came from a higher other income component. Other income at the end of the quarter stood at ₹259 crore from ₹28 crore last year.
Revenue for the quarter grew by 6.7% from the same quarter last year to ₹6,189 crore. On a sequential basis, Tata Communications' revenue growth stood at 1.5%.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter grew by 4% from last year to ₹1,228 crore.
Margins narrowed to 19.8% from 20.4% last year. The figure during the September quarter was 19.2%.
The company's board of directors also appointed Ganesh Lakshminarayanan as the managing director and chief executive officer (designate) of Tata Communications, effective a future date once the applicable regulatory approvals are received.
The company said it will inform the stock exchanges of the same once it gets the regulatory approvals.
Revenue from the voice solutions business fell to ₹373 crore from ₹410.5 crore. Data Services revenue increased to ₹5,379 crore from ₹4,917 crore last year. Transformation Services revenue fell to ₹222.87 crore from ₹288.83 crore last year.
"We are gaining momentum across the business, and the capability shift we have invested in is now clearly translating into stronger products and sharper execution for customers. With multiple launches ahead, we are well positioned to build sustainably and accelerate the next phase of growth, AS Lakshminarayan, MD & CEO of Tata Communications said.
Shares of Tata Communications fell 6% after the results announcement at ₹1,612.5.
Also Read: Eternal Q3 Results: Stock jumps 6% ahead of earnings; eyes on Q-Com guidance
Net profit for the period grew 55% from the same quarter last year to ₹365.3 crore. Majority of the growth in the company's profitability came from a higher other income component. Other income at the end of the quarter stood at ₹259 crore from ₹28 crore last year.
Revenue for the quarter grew by 6.7% from the same quarter last year to ₹6,189 crore. On a sequential basis, Tata Communications' revenue growth stood at 1.5%.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter grew by 4% from last year to ₹1,228 crore.
Margins narrowed to 19.8% from 20.4% last year. The figure during the September quarter was 19.2%.
The company's board of directors also appointed Ganesh Lakshminarayanan as the managing director and chief executive officer (designate) of Tata Communications, effective a future date once the applicable regulatory approvals are received.
The company said it will inform the stock exchanges of the same once it gets the regulatory approvals.
Revenue from the voice solutions business fell to ₹373 crore from ₹410.5 crore. Data Services revenue increased to ₹5,379 crore from ₹4,917 crore last year. Transformation Services revenue fell to ₹222.87 crore from ₹288.83 crore last year.
"We are gaining momentum across the business, and the capability shift we have invested in is now clearly translating into stronger products and sharper execution for customers. With multiple launches ahead, we are well positioned to build sustainably and accelerate the next phase of growth, AS Lakshminarayan, MD & CEO of Tata Communications said.
Shares of Tata Communications fell 6% after the results announcement at ₹1,612.5.
Also Read: Eternal Q3 Results: Stock jumps 6% ahead of earnings; eyes on Q-Com guidance
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