Tata Communications has announced its financial results for the quarter ended (QE) December 31, 2023. Consolidated revenue stood at Rs 56.33 billion ($678 million), increasing 24.4 per cent year-on-year (YoY).
Consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in at Rs 11.34 billion, while underlying EBITDA margins stood at 20.1 per cent. Consolidated profit after tax (PAT) stood at Rs 45.05.
The data business revenues of the company grew to Rs 46.18 billion in the reported quarter, registering a YoY growth of 28.5 per cent. The digital portfolio delivered robust growth of 78.2 per cent YoY. Further, India enterprise revenue grew strongly, increasing 10.4 per cent YoY.
Commenting on the results, A.S Lakshminarayanan, managing director and chief executive officer (CEO), Tata Communications, said, “We are pleased to report another quarter of robust growth as data revenue crossed the Rs 4 billion mark with digital services contributing 45 per cent, 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.”
Meanwhile, 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.”
