Tata Communications Reports Flat Q3 Net Profit At Rs 394 Crore
The Q3 FY23 net profit was 0.3% lower than last year's figure of about Rs 395 crore. This is the profit for the period attributable to equity holders of the parent.
Tata Communications Ltd., on Monday, reported a consolidated net profit of about Rs 394 crore for the quarter ended December 2022, a tad lower than the year-ago period.
The Q3 net profit was 0.3% lower than last year's figure of about Rs 395 crore. This is the profit for the period attributable to equity holders of the parent.
The quarterly net profit was down 26% sequentially from the September quarter.
Tata Communications' consolidated revenue for the quarter ended December 2022 came in at about Rs 4,528 crore, registering a growth of 8.2% on-year.
The revenue for its data business stood at Rs 3,593 crore, recording an increase of 11.1% on-year, the company said in a statement, adding that strong momentum in the digital platforms and services segment continued.
Meanwhile, the core connectivity portfolio reported a revenue growth of over 6% year-on-year, and the digital platforms and services delivered revenue growth of over 17.2%, according to the statement.
Tata Communications CEO A S Lakshminarayanan, said, "We are pleased to deliver another strong quarter with broad based growth in our Data business across India and international markets."
"Our expanding portfolio of digital fabric capabilities is enabling us to drive deeper customer engagements improving our funnel and order book," he added.