Tata Communications net down 12.8 pc in Q1; Revenue grew 18 pc
18-Jul-2024 04:30 PM 3821
New Delhi, July 18 (Reporter) Tata Communications, a flagship of Tata Group, net profit has dipped 12.8 percent in the April-June or Q1 of current fiscal at Rs 333 crore as against Rs 382 crore in the same period last year, the company said in a regulatory filing with the stock exchanges. Gross revenue from operators, however grew more than 18 percent at Rs 5,633 crore as against Rs 4,771 crore during the period under consideration. Commenting on the results, AS Lakshminarayanan, MD and CEO, Tata Communications, said “We are pleased to announce a strong and positive start to FY25, with our quarterly performance indicators showing promising results. We remain bullish about the market opportunities, and with our expanded product capabilities and increasing customer relevance, we are confident in our ability to achieve our medium-term growth objectives.” Company’s revenue from data has increased 20 percent in the first three months of operations to Rs 4,694 crore as against Rs 3,912 crore, the company said in a statement. Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, said "Our financial prudence, anchored in our 'Fit to Grow' framework, has yielded profitable growth and delivered margin expansion this quarter. As our products continue to gain traction and scale, we anticipate operating leverage, positioning us to achieve our margin aspirations in the medium term...////...
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