Mumbai, INDIA , January 18, 2024
Tata Communications, the global communications technology (CommTech) player, announced its financial results for the quarter ended 31st December 2023.
Commenting on the results, AS Lakshminarayanan, MD and CEO, Tata Communications, said: “We are pleased to report another quarter of robust growth as data revenue crossed the INR 4,000 crore mark with digital services contributing 45%, in line with our strategy. Even as we increase our impetus on people and platforms to deliver long-term value, our acquisitions of Oasis, The Switch and Kaleyra have created new avenues for growth and innovation. We remain confident about our medium-term ambitions.”
Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, said: “We are extremely encouraged that Kaleyra has turned EBITDA positive in the first quarter itself, in line with our ‘Fit to Grow’ strategy. We are excited about the medium term as we see multiple levers to maximise value from both our organic and inorganic investments. We continue strongly on the new growth trajectory with robust cash flow generation as the focus.”
Particulars (INR Crore) | Quarter Ended – Q3 FY24 | Quarter Ended – Q3 FY23 | YoY Growth |
Gross Revenue | 5,633 | 4,528 | 24.4% |
Data Revenue | 4,618 | 3,593 | 28.5% |
EBITDA | 1,134 | 1,077 | 5.3% |
EBITDA Margin | 20.1% | 23.8% | (370 bps) |
PAT | 45 | 394 | -88.6% |
Adjusted PAT | 251 | 394 | -36.2% |
Adjusted PAT | 4.5% | 8.7% | (420 bps) |
An investor data pack providing detailed analysis of the results for the quarter ended 31st December 2023 has been uploaded on the Tata Communications website and can be accessed here.
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A part of the Tata Group, Tata Communications (NSE: TATACOMM; BSE: 500483) is a global digital ecosystem enabler powering today’s fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. 300 of the Fortune 500 companies are its customers and the company connects businesses to 100% of the world’s cloud giants. For more information, please visit www.tatacommunications.com