 "Tanla Platforms shares slip 9% after Q2 net profit dips to Rs 120 crore")
Tanla Platforms shares slipped 8.5 per cent on BSE and logged an intraday low of Rs 784.1 per share on Friday. The software company's stock fell after its consolidated profit after tax (PAT) declined nearly 9 per cent year-on-year (Y-o-Y).
At around 12:36 PM, Tanla Platforms shares were down 3.46 per cent at Rs 827.75 per share on the BSE. In comparison, the BSE Sensex was up 0.34 per cent at 81,279.6 around the same time. The market capitalisation of the company around the time stood at Rs 11,138.81 crore.
In the quarter ended on September 30, 2024, Tanla Platforms' consolidated net profit declined to Rs 130.2 crore as compared to Rs 142.54 crore in the year ago period. The company's revenue for the quarter under review stood at Rs 1,000.7 crore, in comparison to Rs 1,008.6 crore, down 0.78 per cent.
Its total income for the September quarter stood at Rs 1,011 crore, down 0.38 per cent Y-o-Y from Rs 1,014.93 crore in the year-ago period.
The company, as per its exchange filing, added 35 per cent of its new customers on WhatsApp. Its product penetration improved to 2.37 from 2.17 in Q1 FY25 on a larger customer base, driven by the growing adoption of WhatsApp and other new channels.
“Amidst the dynamic landscape, we have navigated shifts effectively while building a foundation for sustained growth. With strategic investments in OTT, platform innovation, and investment for future growth, Tanla is positioned to drive impactful industry shifts. We closed another deal with one of the largest banks in India this quarter for Wisely ATP, reinforcing our commitment to secure, innovative digital solutions,” said Uday Reddy, founder, chairman and CEO, of Tanla Platforms.
Tanla Platforms is a technology company based in India that specialises in communication solutions and platforms for enterprises. Founded in 1999, it provides a range of services, including cloud communications, messaging solutions, and application programming interfaces (APIs) that facilitate seamless connectivity between businesses and their customers.
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Tanla's products are used for various applications, such as SMS messaging, voice services, and digital marketing. The company is known for its emphasis on security, scalability, and reliability, catering to a diverse clientele, including telecom operators, businesses, and government agencies.
In recent years, Tanla has also expanded its offerings to include innovative solutions for customer engagement and digital transformation, leveraging technologies like artificial intelligence and machine learning to enhance user experiences.
The 52-week high of the company stood at Rs 1,248.4 per share, while its 52-week low is at Rs 782 per share.
In the past one year, Tanla Platform shares have lost 133 per cent, compared to the BSE Sensex's rise of 23 per cent during the same period.