Tata Comm gains as Q2 PAT rises 25% YoY to Rs 532 cr

18 Oct 2022 , 03:10 PM

On a sequential basis, net profit slipped 2.11% while net sales rose 2.79% in Q2 FY23 over Q1 FY22. Sequentially, growth in revenue followed upsides in the Data business, the company stated. Consolidated EBITDA stood at Rs 1,130 crore in Q2 FY23, registering a growth of 4.9% quarter on quarter (QoQ) and a rise of 1.5% year on year (YoY). Margins improved to 25.5% in Q2 FY23, expanding by 50 basis points QoQ while declining by 120 basis points YoY. The company profit before tax grew 12% to Rs 593.18 crore in Q2 FY23 compared with Rs 529.59 crore recorded in the same period previous year. Cash CAPEX for this quarter stood at $52.7 million relative to $52.9 million in Q2 FY22. The companys Data business revenues came in at Rs 3,493 crore, recording an increase of 11.2% YoY. Strong momentum was witnessed across all offerings in the Data portfolio, said the company. EBITDA stood at Rs 1,007 crore, up 3.9% QoQ on the back of strong operational efficiencies. The Core Connectivity portfolio reported growth of 5.9% YoY in revenue; EBITDA enhanced by 7.5% YoY, with margins coming in at 46.6%. Digital Platforms and Services delivered robust growth of 16.5% YoY and 6.1% QoQ. Declaring the results, A.S Lakshminarayanan, MD and CEO of Tata Communications said, ?We are pleased to announce robust data revenue growth and healthy profits in the second quarter of this fiscal. Our international markets are witnessing good growth and our continued efforts of shifting from products to platforms is yielding positive results.? Commenting on the results, Kabir Ahmed Shakir, chief financial officer at Tata Communications said, ?Our performance in the second quarter demonstrates our broad-based growth, continued strong performance on profitability and free cash flow. We are further strengthening our position as a trusted partner to our customers helping them evolve in their digital transformation journeys.? Tata Communications is a global digital ecosystem enabler powering todays fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. Powered by Capital Market – Live News