Tanla Platforms Limited has announced its results for the quarter ended (QE) December 31, 2020, in comparison with the same period the previous financial year.
On a year-on-year (YoY) basis, the company’s revenues grew 21 per cent to Rs 6,541 million accounting for more than a third of last year’s annual revenues. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) was up by 99 per cent to Rs 1,269 million for the same period, crossing the Rs 1,000 million mark for the first time. The company reported the highest-ever net profit of Rs 935 million.
EBITDA to cash conversion was 78 per cent and cash generated from operating activities was Rs 2,252 million, for the quarter. Tanla and all of its subsidiaries continue to remain debt-free.
Tanla’s growth in business for the quarter was propelled by 81 new client opportunities. These new deals could augment the annual revenue by Rs 900 million.
Early January 2021, Tanla also marked a significant milestone in the platforms business with the launch of Wisely, a blockchain-enabled CPaaS offering built & architected by Microsoft. As a unique marketplace for enterprises and suppliers, Wisely offers a global edge-to-edge network that delivers private, secure, and trusted communication experiences. It was the first time that an Indian technology company released a disruptive platform for global adoption.
New Enterprise Wins
Tanla’s new enterprise wins came from eight sectors for the quarter. Banking, fintech, retail and e-commerce accounted for more than 50 per cent of new enterprise wins. Consumer goods and automobile, communications and entertainment, and BFSI sectors top the list of 6,278 enterprises that registered on Trubloq in Q3 alone.
Responding to COVID-19
During these trying periods, we focused on keeping our employees safe, encouraging them to work from home by providing them with adequate technology and infrastructure. Even as we worked remotely, we made certain that the needs of our customers and partners were always met and everybody remained engaged, healthy, and productive in their new working environment.
Commenting on the results, Uday Reddy, Chairman and CEO of Tanla Platforms Limited, said, “The quarterly results demonstrate the depth of Tanla’s capabilities in the platforms and commercial communications domain. Our unwavering focus, and investment in platforms and products, people, customer success and brand have all led to us posting the best quarterly performance till date. With our market position stronger than ever before, we are committed in our decision to expand our global footprint in the CPaaS business. Trubloq, the DLT platform built to enforce the TRAI regulation has seen massive adoption across enterprises, telemarketers and telcos. To date, we have onboarded more than 34,000 enterprises. Trubloq was only launched commercially in September, and now processes over 70 per cent of A2P traffic in India, topping 1 Billion interactions in a single day last month. Trubloq significantly bolstered Tanla’s revenues in the third quarter. Data security, data privacy and traceability of digital footprint are no longer just compliance requirements, rather fast emerging as a potential source of competitive advantage and so are becoming a strategic priority for organisations. The Wisely platform, our latest offering launched in January ensures that end users data security and data privacy is never compromised when sending and receiving commercial communications. Wisely is on its way to “Uberize” the CPaaS ecosystem.”