Tata Communications Share Price: Tata Communication stocks traded flat on Wednesday, October 19, a day after the company reported its second quarter earnings. The Tata Group company on Tuesday reported healthy results in the July-September quarter of the current financial year with a 25 per cent increase in its consolidated net profit at Rs 532.29 crore. The company had recorded a net profit of Rs 425.38 crore in the same period a year ago.

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At 11 AM, the stock quoted Rs 1,239 apiece on the NSE, marginally up against 0.60 per cent rise in the benchmark index.

Tata Communications on Tuesday reported a 25 per cent increase in its consolidated net profit at Rs 532.29 crore in the July-September quarter of the current financial year. The company had recorded a net profit of Rs 425.38 crore in the same period a year ago, according to a regulatory filing.

Tata Communications' consolidated income from operations grew by about 6 per cent to Rs 4,430.74 crore during the reported quarter compared to Rs 4,174.02 crore in the year-ago period.

"We are pleased to announce robust data revenue growth and healthy profits in the second quarter of this fiscal. Our international markets are witnessing good growth and our continued efforts of shifting from products to platforms is yielding positive results," said A S Lakshminarayanan, MD and CEO of Tata Communications.

Global brokerage firm CLSA maintained an Outperform rating on Tata Communications with a price target of Rs 1433. It said that the data business revenue is up 11 per cent on a YoY basis, but EBITDA is down by about 4% YoY. The global investment bank raised FY23 CL PAT estimate and retained outperform rating on the counter.

Tata Communications stock is in the consolidation phase for the past phase. The Tata Group company has delivered a negative return of 15 per cent year-to-date. Tata Communications stock price 52-week range is Rs 1,591.95 - Rs 856.25.