Tata Communications rises despite reporting mixed fourth-quarter results

Tata Communications Share Price: Tata Communications rose by over two per cent on BSE on Thursday (April 18, 2024) after the telecom company reported mixed fourth-quarter results a day ago.

The stock that opened at Rs 1,846.90 on Thursday rose to the day's high of Rs 1,923.05, a 2.07 per cent rise from its previous close of Rs 1,884.05.

Tata Communications' shares were trading higher by 1.23 per cent, or Rs 23.25, at Rs 1,907.30 each at 10:15 am on Thursday. 

Tata Communications (conso) (qoq) Q4 results

The company's operating margin was less than the Zee Business research estimate.

The margin slid to 18.6 per cent in the fourth quarter against 20.1 per cent in the previous quarter, against research estimates of 20 per cent.

Its EBITDA slipped by 6.90 per cent to Rs 1,056.3 crore in Q4 against Rs 1,134.4 crore in the previous quarter, below the estimates of Rs 1,150 crore.

Profit after tax for the fourth quarter soared by 617.0 per cent to Rs 321.2 crore against Rs 44.8 crore in the third quarter, below the estimates of Rs 325 crore.

Revenue from operations was up by just one per cent to Rs 5,691.7 crore in Q4 against Rs 5,633.3 crore in Q3, below analyst estimates of Rs 5,750 crore.

About Tata Communications

Tata Communications, previously known as VSNL, started in 1986 as a govt telecom company.

VSNL was then sold to Tata Group in 2008.

Around 30 per cent of the world’s Internet routes travel over Tata Communications’ network.

Serves over 7,000 customers globally with a presence in more than 190 countries and territories.

It has multiple segments like data, voice, transformation services, payment solutions, and rental business.