Tata Communications rises after Q2 PAT grows 10.6% YoY

Tata Communications gained 1.28% to Rs 1,464.55 after the company posted a 10.6% increase in consolidated net profit to Rs 425.38 crore in Q2 FY22 as compared to Rs 384.48 crore posted in Q2 FY21.

Oct 21, 2021 09:10 IST capital market

Consolidated revenue came in at Rs 4,174 crore for Q2 FY22, registering a growth of 1.7% QoQ and a decline of 5.2% year on year. Sequential growth is on account of gradual recovery across both data and voice segments, the company said in a press release.

Consolidated EBITDA stood at Rs 1,113 crore, a rise of 12.9% quarter on quarter and a decrease of 3.9% year on year. Margins stood at 26.7% in Q2 FY22, expanding by 260 basis points quarter on quarter and 40 basis points year on year.

Profit before tax rose by 5.6% to Rs 529.59 crore in Q2 FY22 over Q2 FY21. CAPEX for the quarter ended September 2021 was at Rs 392 crore as compared to Rs 318 crore in Q2 FY21.

Commenting on the second quarter performance, A.S Lakshminarayanan, MD and CEO of Tata Communications said, ?Delivering a sequential growth on a quarter-on-quarter basis after three quarters of decline is a positive indicator which we will continue to build on. The second quarter of FY22 was marked by recovery with favorable underlying trends as economic activities normalise. As the global industries recover, we continue to maintain sharp focus on the needs of our customers, in line with the rapidly changing trends and evolving digital needs.?

Tata Communications is a leading global digital infrastructure provider. Its Tier-1 IP network, wholly-owned subsea fibre backbone and consortium cables global network carries approximately 30% of the worlds internet routes.

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