Q2 FY2021 Results: Tata Communications posts profit of Rs 384 crore, rise of 600% YoY
The company posted a net profit of Rs 384.81 crore in the September period, a rise of 600% YoY as compare to Rs 54.31 crore in Q2 FY2020.
Tata Communications Ltd. on Friday released its Q2 FY2021 result. The company posted a net profit of Rs 384.81 crore in the September period, a rise of 600% YoY as compare to Rs 54.31 crore in Q2 FY2020.
The Mumbai based company recorded revenue at Rs 4477.18 crore in the quarter compared to Rs 4417.68 crore in the previous June period.
The Earnings per Share (EPS) increased to Rs 13.49 from Q1 Rs 9.05, a rise of 49% QoQ. Consolidated EBITDA was at Rs 1,158 crore (USD 155 Million), increase of 38.9% YoY and margin expansion of 680 Bps.
A.S Lakshminarayanan, MD and CEO, Tata Communications, said, “We have had a strong performance in Q2, as we continue to deepen our customer engagements and support enterprises to seamlessly embark and advance on their digital transformation journeys. Leveraging the shift to cloud-first, internet-first strategies, we are innovating across our portfolio to offer solutions that are tailored to this new digital-first world. We see great opportunities ahead, as organisations look to harness the power of technology to transform their business models and drive competitive differentiation and sustainable development.”
Pratibha K. Advani, Chief Financial Officer, Tata Communications, said, “Data business continues to grow at a healthy pace and profitability has improved due to our focus on operational efficiencies. Our margins have expanded, and we have witnessed 3 successive quarters of double-digit EBITDA growth leading to strong PAT. There has been a robust improvement across all financial parameters; our profitability and cash flow generation has improved significantly in the last few quarters leading to a stronger balance sheet for the future.”
The data service provider stated in its BSE regulatory filing that it carries around 30% of the world’s internet routes and connects businesses to 60% of the world’s
cloud giants and 4 out of 5 mobile subscribers.