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Tata Communications records 25% jump in Q2 profit; revenue growth at 6%

There was strong momentum across all offerings in the data portfolio, the company said

October 18, 2022 / 03:17 PM IST
 
 
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Tata Communications on October 18 said its consolidated net profit for the quarter ending September stood at Rs 532 crore, up 25.1 percent from Rs 425 crore in the corresponding quarter last year.

Its revenue from operations stood at Rs 4,431 crore, increasing 6.2 percent compared to Rs 4,174 crore in the same quarter last year. Sequentially, growth in revenue followed upsides in the data business.

Data business revenues came in at Rs 3,493 crore, recording an increase of 4.6 percent quarter on quarter (QoQ) and 11.2 percent YoY. There was strong momentum across all offerings in the Data portfolio, the company added in an exchange filing.

Consolidated EBITDA came in at Rs 1,130 crore; rising 1.5 percent year on year (YoY), where margins stood at 25.5 percent, growing by 50 basis points sequentially.

The company said committed capital expenditure (capex) for this quarter stood at $52.7 million relative to $52.9 million in Q2FY22.

“We are pleased to announce robust data revenue growth and healthy profits in the second quarter of this fiscal,” said AS Lakshminarayanan, MD and CEO, Tata Communications. “Our international markets are witnessing good growth and our continued efforts of shifting from products to platforms is yielding positive results.”

“Our performance in the second quarter demonstrates our broad-based growth, continued strong performance on profitability and free cash flow,” said Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications. “We are further strengthening our position as a trusted partner to our customers helping them evolve in their digital transformation journeys.”

The stock was trading up about 4 percent at Rs 1,237.

Moneycontrol News
first published: Oct 18, 2022 03:17 pm

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