Earnings Review
Tata Comm Jul-Sept consol PAT up 3% YoY; data revenue up 21%
This story was originally published at 18:05 IST on 17 October 2024
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--Tata Comm Jul-Sept consol EBITDA margin 19.4% vs 20.8% year ago
--Tata Comm Jul-Sept consol EBITDA INR 11.17 bln vs INR 10.15 bln year ago
--Tata Comm Apr-Sept consol revenue INR 114.01 bln vs INR 96.44 bln year ago
--Tata Comm Apr-Sept consol net profit INR 5.60 bln vs INR 6.02 bln year ago
--Tata Comm Jul-Sept consol revenue INR 57.67 bln vs INR 56.33 bln year ago
--Tata Comm Jul-Sept consol net profit INR 2.27 bln vs INR 3.33 bln qtr ago
--Tata Comm Jul-Sept consol net profit INR 2.27 bln
MUMBAI – Tata Communications Ltd. reported a consolidated net profit of INR 2.27 billion in the September quarter, up 3% on year. However, the bottom line was below analyst expectations and down from INR 3.33 billion reported a quarter ago. The company's revenue from operations in the September quarter was INR 57.67 billion, up from INR 56.33 billion a year ago, driven by gains in data revenue and performance of digital platforms.
Tata Communications' consolidated net profit in the September quarter last financial year was INR 2.21 billion. An average of two analyst estimates had pegged the net profit figure for the latest quarter at INR 2.98 billion. Tata Communications incurred an one-time expenditure of INR 429 million in the September quarter, lower than INR 857.1 million spent in the June quarter.
Tata Communications' consolidated net profit for Apr-Sept was INR 5.60 billion, down from INR 6.02 billion in the same period a year ago. The company's income in Apr-Sept was INR 114.01 billion, higher than INR 96.44 billion reported in the same period a year ago.
Tata Communications' other income in Jul-Sept was INR 141.2 million, 46.34% lower sequentially and 44% lower on year. The company's data revenue in the September quarter was INR 48.34 billion, 21% higher on year. The digital portfolio of Tata Communications, which accounted for 46% of the data revenue, increased 52.4% on year.
Tata Communications' consolidated earnings before interest, tax, depreciation, and amortisation in Jul-Sept was INR 11.17 billion, 10% higher on year. EBITDA margin in the September quarter was 19.4%, 140 basis points lower on year.
Tata Communications' finance costs in the September quarter were INR 1.92 billion, 11.8% higher sequentially and 40.1% higher on year. The company's finance costs were INR 1.37 billion in the same quarter last financial year. Tax outgo for the company in the September quarter was INR 2.33 billion, 86.35% higher than INR 1.25 billion in the June quarter, but higher than INR 701.8 million in the September quarter a year ago.
The company's other income in Apr-Sept was INR 404.6 million, 81% lower than INR 2.14 billion reported in the same period a year ago. The company's total expenses in Apr-Sept increased to INR 108.32 billion, 19.6% higher on year.
Shares of Tata Communications traded 3.3% lower prior to the announcement of earnings, but fell further to 5.3% at 1520 IST on the National Stock Exchange post earnings release. Thursday, shares of Tata Communications closed at INR 1,830.05, down 4.81%. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Anand JC
Edited by Manisha Baxla
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