Tata Communications fell 3.68% to Rs 1,332 after the company's consolidated net profit declined marginally to Rs 393.88 crore in Q3 FY23 from Rs 395.21 crore posted in Q3 FY22.
Revenue from operations rose 8.2% to Rs 4,528.34 crore in Q3 FY23 as against Rs 4,184.89 crore recorded in the corresponding quarter previous year.
On a sequential basis, the firm's net profit tumbled 26% while revenue increased by 2.2% in Q3 FY23. Sequentially, growth in revenue followed upsides in the Data business.
Consolidated profit before tax was at Rs 430.62 crore in quarter ended 31 December 2022, registering a decline of 11% from Rs 483.86 crore reported in Q3 FY22.
EBITDA stood at Rs 1,077 crore in Q3 FY23, recording a growth of 4.6% quarter on quarter (QoQ) and almost flat on a year on year (YoY) basis. EBITDA margin was at to 23.8% in Q3 FY23, declining by 170 basis points QoQ and 210 basis points YoY.
The company's Data business revenues came in at Rs 3,593 crore, recording an increase of 11.1% YoY. Strong momentum in the Digital Platforms and Services segment continued, said the company. EBITDA stood at Rs 948 crore, 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.
Committed CAPEX for this quarter stood at Rs 391 crore compared to Rs 400 crore in Q3 FY22
A.S Lakshminarayanan, MD and CEO of 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.
Kabir Ahmed Shakir, chief financial officer of 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.
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.
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