Tata Communications Q1 results: PAT increases 83.6% to Rs 544 cr on-year

Tata Communications announced its first quarter results on Wednesday. It stated that profit after tax (PAT) stood at Rs 544 crore in this quarter, which is an uptick of 83.6 per cent on-year from Rs 296 crore in Q1 FY22. 

Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs 1,077 crore, an increase of 9.2 per cent  from the same period last year. The company reported consolidated revenue of Rs 4,311 crore in Q1 FY23, an increase of 5.1 per cent YoY.

Tata Communications’ data business revenues were reported at Rs 3,340 crore, which is an increase of 7.6 per cent year-on-year. The company added that digital platforms and services delivered robust growth of 12.3 per cent YoY. EBITDA stood at Rs 960 crore, which is an increase of 4 per cent on-year. The EBITDA growth was driven by consistent delivery in the core connectivity and digital platforms and services portfolio.

The company added that the core connectivity portfolio reported a growth of 3.6 per cent year-on-year in revenue, while EBITDA increased 2.6 per cent YoY, with margins at 42.5 per cent.  

AS Lakshminarayanan, MD and CEO, 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.”

Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, said that the company continues to focus on operational efficiencies and balance sheet hygiene, which is reflected in their profitability and cash flow. 

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