The company’s consolidated revenue came in at Rs4,174cr (USD 563 Mn); a growth of +1.7% qoq and a 5.2% decrease yoy. Sequential growth is on account of gradual recovery across both Data and Voice segments. Consolidated EBITDA stood at Rs1,113cr (USD 150 Mn); an increase of +12.9% qoq and a decrease of 3.9% yoy with margins at 26.7%. Margin expanded by 260 BPs qoq and 40 BPs on a yoy basis.
Consolidated Profit After Tax (PAT) of the company is at Rs425cr (USD 57 Mn) as compared to a profit of Rs385cr in Q2 FY21, registering a growth of + 10.6% yoy and 43.7% qoq. CAPEX for this quarter was at Rs392cr as compared to Rs318cr in Q2FY21.
The company stock was bullish on Thursday and at around 11.22 am, Tata Communications Ltd was trading at Rs1,468.55 per piece up by Rs22.5 or 1.56% from its previous closing of Rs1,446.05 per piece on the BSE.
Data services portfolio
- Data revenues stood at Rs3,140cr, registering a growth of + 1.1% qoq and a decrease of 2.2% yoy. With COVID situation easing, we have started to witness gradual recovery in business, all segments grew sequentially after 3 quarters of decline.
- EBITDA for the segment was at Rs1,049cr, registering a growth of +12.6% qoq and a decrease of 3.4% yoy, with margin at 33.4% on the back of growth in profitability in Core Connectivity and Digital Platforms & Services.
- Core Connectivity portfolio delivered growth of + 0.4% yoy in revenue; EBITDA increased by +0.9% yoy and +8.0% qoq, with margins at 45.9%.
- Digital Platforms and Services have started to show gradual recovery on a quarterly basis, revenue improving by +2.3% qoq.
Commenting on the results, Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, said, “Our performance in the second quarter demonstrates a continued improvement in revenue supported by improvement in profitability and build-up of free cash flow. We continue to strengthen our balance sheet and invest for future growth as we evolve as a trusted partner for our customers, enabling their digital transformation journey.”