Tata Communications announces its Q3 FY23 results

2024-04-25 07:07:22 Business

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Mumbai, INDIA - 23rd January 2023 ? Tata Communications announces its financial results for the quarter ended 31st December 2022.

Highlights|Q3 FY2023

Consolidated financial highlights
? Consolidated revenue stood at INR 4,528 crore (USD 550.8 Mn); increasing
+8.2% YoY. Sequentially, growth in revenue followed upsides in the Data business
? Consolidated EBITDA came in at INR 1,077 crore (USD 130.8 Mn); almost flat on a YoY basis, where margins stood at 23.8%
? Consolidated PAT stood at INR 394 crore (USD 47.3 Mn) from INR 395 crore (USD 52.8 Mn) in Q3 FY22
? Committed CAPEX for this quarter stood at INR 391 crore (USD 47.5 Mn) relative to INR 400 crore (USD 53.4 Mn) in Q3 FY22

Data services portfolio
? Data business revenues came in at INR 3,593 crore (USD 437.2 Mn), recording an increase of +11.1% YoY. Strong momentum in the Digital Platforms and Services segment continued
? EBITDA stood at INR 948 crore (USD 115 Mn), backed by consistent delivery in Core Connectivity and Digital Platforms and Services
? The Core Connectivity portfolio reported growth of +6% YoY in revenue; Digital Platforms and Services delivered robust growth of +17.2% YoY

Speaking on the quarter performance, A.S Lakshminarayanan, MD and CEO, Tata Communications, said, ?We are pleased to deliver another strong quarter with broad based growth in our Data business across India and international markets. Our expanding portfolio of digital fabric capabilities is enabling us to drive deeper customer engagements improving our funnel and order book.?

Commenting on the results, Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, said, ?This was another quarter of a growth momentum in our Data Portfolio, reflective of our investments in our people and innovative solutions, in line with our customer?s evolving digital needs. Our focus on financial prudence has allowed us to drive inorganic expansion of our
global footprint.?

About Tata Communications

A part of the Tata Group, Tata Communications (NSE: TATACOMM; BSE: 500483) is a global digital ecosystem enabler powering today?s 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. 300 of the Fortune 500 companies are its customers and the company connects businesses to 80% of the world?s cloud giants.