Tanla Platform Q3 Results Review - Inline; Wisely Platform Expected To Be Key Growth Driver: Yes Securities
Both, sequential revenue growth and Ebitda margin were inline with estimates.
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Yes Securities Report
Tanla Platforms Ltd. reported inline financial performance for the quarter. Both, sequential revenue growth and Ebitda margin were inline with estimates. It reported sequential revenue growth of 2.2% QoQ, led by 2% increase in the revenue of enterprise business and 4.1% QoQ increase in revenue of platform business.
Trubloq processed 82 billion message in Q2 with more than 60% volume market share. There was sequential increase in Ebitda margin(up 101 basis points QoQ) as operating margin has started recovering after getting adversely affected in Q1 FY23.
It is a credible play on the rising demand for communication platform as a service solutions across industries for achieving enhanced customer engagement. Also, increase in smartphone penetration and greater regulatory push towards mandatory SMS alerts would drive CPaaS market. As per industry reports, the Global CPaaS market is expected to grow at compound annual growth rate of 29% from CY20 to CY25E, led by faster adoption of multichannel communication.
The adoption of CPaaS based application to person messaging across industries continues to drive volume growth for both enterprise and platform segments of Tanla. Rising share of higher margin platform segment would drive Ebitda margin of the company.
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