Tata Communications Q2FY23 Results: Tata Group company reports healthy numbers on all fronts – know details

Tata Communications Result: Tata Group company Tata Communications Limited on Tuesday reported healthy second-quarter earnings for the financial year 2022-23 (Q2FY23). Both the top and bottom lines witnessed year-on-year growth, similarly, the margins too expanded marginally during the quarter.

Tata Communications’ consolidated revenue stood at Rs 4,431 crore, increasing 6.2 per cent YoY, and sequentially, growth in revenue followed upsides in the Data business, as per the regulatory filing.

While the company’s consolidated PAT (profit after tax) stood at Rs 532 crore in Q2FY23 from Rs 425 crore in Q2FY22, marking an increase of more than 25.1 per cent YoY, Tata Communications said.

Similarly, the consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) came in at Rs 1,130 crore rising 1.5 per cent YoY, where margins stood at 25.5 per cent, growing by 50 basis points sequentially and 120 bps YoY, the company also mentioned in its exchange filing.

Tata Communications said that the committed CAPEX (capital expenditure) for this quarter stood at USD 52.7 million relative to USD 52.9 million in Q2FY22.

 “Our international markets are witnessing good growth and our continued efforts of shifting from products to platforms is yielding positive results,” A.S Lakshminarayanan, MD and CEO, of Tata Communications said in his commentary.

While the company’s Chief Financial Officer, Kabir Ahmed Shakir, said, “Our performance in the second quarter demonstrates our broad-based growth, continued strong performance on profitability and free cash flow.”

“We are further strengthening our position as a trusted partner to our customers helping them evolve in their digital transformation journeys,” Shakir added.

On Tuesday, shares of Tata Communications closed over 3.5 per cent higher to Rs 1237.8 per share on the BSE. In the last one month, the stock has gained nearly 4 per cent and it has slipped over 17 per cent in the last one year.