Tata Comm spurts after Q1 PAT climbs 84% to Rs 544 cr

21 Jul 2022 , 10:14 AM

On a sequential basis, net profit grew 48.95% while net sales rose 1.11% in Q1 FY23 over Q4 FY22. Sequentially, growth in revenue followed upsides in the Data business, the company stated. Consolidated EBITDA stood at Rs 1,077 crore in Q1 FY23, registering a growth of 3% quarter on quarter (QoQ) and a rise of 9.2% year on year (YoY). Margins improved to 25% in Q1 FY23, expanding by 46 basis points QoQ and 95 basis points YoY. The company profit before tax soared 84.1% to Rs 694.26 crore in Q1 FY23 compared with Rs 377.05 crore recorded in the same period previous year. Cash CAPEX for this quarter stood at $42.7 million relative to $46.2 million in Q1 FY22. The companys Data business revenues came in at Rs 3,340 crore, recording an increase of 7.6% YoY. Digital Platforms and Services delivered a robust growth of 12.3% YoY. EBITDA stood at Rs 969 crore, up 4% YoY backed by consistent delivery in Core Connectivity and Digital Platforms and Services. The Core Connectivity portfolio reported a growth of 3.6% YoY in revenue; EBITDA enhanced by 2.6% YoY, with margins coming in at 42.5%. Announcing the quarter results, A.S. Lakshminarayanan, MD and CEO of Tata Communications, said, ?We delivered a profitable data revenue growth as a result of disciplined execution, portfolio enhancements and deeper customer engagements. We continue to closely monitor and overcome the OEM and Supply Chain challenges. We are pleased with the healthy growth in the order booking and funnel additions across our portfolio, both in India and international markets.? Commenting on the results, Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, said, ?We continue to maintain our focus on operational efficiencies and balance sheet hygiene which is reflected in our profitability and cash flow. We are pleased to see a strong impact of our finance strategy in the companys performance.? 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