Tata Communications rose 2.97% to Rs 1159.10 after the company announced a multi-year strategic collaboration with Formula 1.
Under the collaboration, Tata Communications will function as the official broadcast connectivity provider of Formula 1.Tata Communications will empower Formula 1 with global end-to-end managed network services for video contribution. For this, the company will facilitate the transfer of more than 100 video feeds and over 250 audio channels to be transmitted between the Grand Prix venue and F1's Media & Technology Centre in the UK every race weekend in under 200 milliseconds, enabling F1 to broadcast to over 500 million fans in 180+ territories globally.
Following the introduction of Formula 1's remote broadcast operations in 2020, Tata Communications has allowed reduction in the organisation's travelling freight by 34%.
Formula 1 racing began in 1950 and is the world's most prestigious motor racing competition, as well as the world's most popular annual sporting series.
Tata Communications 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.
On a consolidated basis, Tata Communications' net profit jumped 27.84% to Rs 395.21 crore on 0.90% decline in net sales to Rs 4184.89 crore in Q3 December 2021 over Q3 December 2020.
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