The operating profit of the company grew by 79% yoy at Rs134.53cr. Earnings per share were Rs7.68 and grew by 49% yoy. Cash conversion (operating cash flow to operating profit) was at 102%. Cash & Cash Equivalents was Rs717.11cr, up from Rs247.02cr.
The Board of Tanla approved buyback of equity shares, for an aggregate amount not exceeding Rs65cr at a price not exceeding Rs1,260 per equity share, payable in cash, from the open market through stock exchange mechanism in accordance with the applicable regulations.
The company stock was bullish on Friday and at around 9.25 am, Tanla Platforms Ltd was trading at Rs1,019.90 per piece up by Rs42.75 or 4.37% from its previous closing of Rs977.15 per piece on the BSE. The stock has already hit day's high of Rs1024.90 per piece.
Uday Reddy, Chairman & CEO, Tanla Platforms Limited said, “We had a stellar start into the year with consistent acceleration in our revenue growth, while improving profitability and cash flows. The operating profit and net profit are at an all-time high, driven by increasing contribution from our platform business.
Our financial performance is an outcome of our innovation led strategy and focused execution. Tanla is growing at rate of knots. There is a Rule of 40 out there for SaaS companies, but Tanla has grown organically at Rule of 60 in Q1. This is a tangible demonstration of the strong unit economics within our business, and it showcases the inherent strength of the business model.”