In response to Tata Communications’ robust quarterly report, investors hurried to secure gains, causing a 1.3 percent decline in the company’s shares on January 19. Despite the morning dip, the stock rebounded to close 6 percent higher at Rs 1,800. The morning trade on the same day saw the stock at Rs 1,746.20 at 9:20 am.
Tata Communications, in a recent regulatory filing, disclosed an impressive 24.4 percent YoY growth in revenue, reaching Rs 5,633 crore. While EBITDA experienced a 5.3 percent YoY increase, PAT witnessed an 88.6 percent decline to Rs 45 crore from Rs 394 crore last year.
During the reporting period, data revenue surged by 28.5 percent YoY, reaching Rs 4,618 crore. The digital portfolio revenue saw a substantial 78.2 percent increase, and India Enterprise revenue grew by 10.4 percent.
Lakshminarayanan, MD and CEO of Tata Communications, expressed satisfaction, stating, “We are pleased to report another quarter of robust growth as data revenue crossed the Rs 4,000-crore mark with digital services contributing 45 percent, in line with our strategy… We remain confident about our medium-term ambitions.”
As of 10:13 am, Tata Communications shares were trading at ₹1,758.05, reflecting ongoing market dynamics after the morning fluctuations.
