FY24 revenue reaches new milestone as data grows 21.9%

Digital Portfolio grows more than 55.4% YoY | Board recommends dividend of INR 16.70 per share

Mumbai, INDIA , April 17, 2024

Tata Communications, the global commtech (communications technology) player, announced its financial results for the quarter and financial year ended 31st March 2024.

Highlights | Q4 FY2024 & FY2024

  • Consolidated revenues for the year jump by 17.5%, coming in at INR 20,969 crore
  • Data revenue crosses the INR 17,000 crore mark, growing by 21.9% on a full-year basis
  • Digital Portfolio witnesses a broad-based growth across all offerings, improving by 55.4% on a full-year basis

Commenting on the results, AS Lakshminarayanan, MD and CEO, Tata Communications, said: “We are pleased to report the significant revenue milestone of INR 20,000 crore. We closed FY24 with strong execution and our digital fabric is witnessing increased relevance from enterprise customers. As we enter the next fiscal, our firm focus will remain on integrating our acquisitions, executing our strategies, and driving sustainable and profitable revenue growth.”

Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, said: “FY24 was an eventful year as we witnessed our finance strategy in action, enabling us to successfully complete three strategic acquisitions on the back of a strong balance sheet. Our financial performance is in line with our expectations as we continue to capture newer business opportunities and accelerate our growth path. With the right operating levers in place, we are confident of our financial performance indicators returning to their ambition range in the medium term.”

Consolidated financial highlights

Q4 FY2024

Particulars (INR Crore) Quarter Ended – Q4 FY24 Quarter Ended – Q3 FY23 YoY Growth
Gross Revenue 5,692 4,569 24.6%
Data Revenue 4,656 3,670 26.9%
EBITDA 1,056 1,034 2.1%
EBITDA Margin 18.6% 22.6% (408 bps)
PAT 321 326 (1.5%)
PAT Margin 5.6% 7.1% (149 bps)

Full Year FY2024

Particulars (INR Crore) Fiscal Year Ended – FY24 Fiscal Year Ended – FY23 YoY Growth
Gross Revenue 20,969 17,838 17.5%
Data Revenue 17,181 14,096 21.9%
EBITDA 4,230 4,318 (2.0%)
EBITDA Margin 20.2% 24.2% (403 bps)
PAT 968 1,796 (46.1%)
PAT Margin 4.6% 10.1% (545 bps)


In The News This Quarter

Major Awards & Recognitions This Fiscal

  • Recognised as a Leader in the 2024 Gartner® Magic Quadrant™ for Global WAN Services for the 11th consecutive year
  • Recognised by Carbon Disclosure Project (CDP) with the distinguished ‘A-’ Leadership band for 2023
  • Frost & Sullivan 2023 awards for Indian SD-WAN Service Provider Company, Indian Unified Communications Service Provider Company, Indian Cloud Interconnect Service Provider Company and Indian Managed Multi-cloud Service Provider Company
  • Tata Communications recognised with ‘Kincentric Best Employers- India 2023’
  • Tata Communications InstaCC™ announced as ‘Gold Winner’ in the best CCaaS solution category by Juniper Research in Future Digital Awards for Telco Innovation 2024
  • Recognised as Best Cyber Security Services Company of the year in India by Data Security Council of India
  • The Financial Times and Statista recognise Tata Communications as one of the APAC Leaders Climate 2023
  • Tata Communications announces 3C Sustainability strategy; Commits to Net Zero by 2035
  • Bagged 2 awards at BW Businessworld The Sustainable World Conclave 2023. Ranked 1st in the Top 3 Telecommunications Sector category and 11th in the Top 50 Most Sustainable Companies in India

An investor data pack providing detailed analysis of the results for the quarter ended 31st March 2024 has been uploaded on the Tata Communications website and can be accessed here.


Media contact:
Amit Sinha Roy
Tata Communications
+91 98999 11333
Investor contact:
Rajiv Sharma
Tata Communications
+91 98201 36641


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. For more information, please visit www.tatacommunications.com

Forward-looking and cautionary statements
Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications’ expected financial position, business strategy, the future development of Tata Communications’ operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications’ network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company’s communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications’ industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications’ control, include, but are not limited to, those risk factors discussed in Tata Communications Limited’s Annual Reports.

The Annual Reports of Tata Communications Limited are available at www.tatacommunications.com. Tata Communications is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements.

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