Tata Communications today announces its financial results for the quarter ended 31st December 2022.
Highlights | Q3 FY2023
Consolidated financial highlights
- Consolidated revenue stood at INR 4,528 crore (USD 550.8 Mn); increasing +8.2% YoY. Sequentially, growth in revenue followed upsides in the Data business
- Consolidated EBITDA came in at INR 1,077 crore (USD 130.8 Mn); almost flat on a YoY basis, where margins stood at 23.8%
- Consolidated PAT stood at INR 394 crore (USD 47.3 Mn) from INR 395 crore (USD 52.8 Mn) in Q3 FY22
- Committed CAPEX for this quarter stood at INR 391 crore (USD 47.5 Mn) relative to INR 400 crore (USD 53.4 Mn) in Q3 FY22
||YTD YoY Growth
Data services portfolio
- Data business revenues came in at INR 3,593 crore (USD 437.2 Mn), recording an increase of +11.1% YoY. Strong momentum in the Digital Platforms and Services segment continued
- EBITDA stood at INR 948 crore (USD 115 Mn), 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
Speaking on the quarter performance, A.S Lakshminarayanan, MD and CEO, 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.”
Commenting on the results, Kabir Ahmed Shakir, Chief Financial Officer, 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.”
An investor fact sheet providing detailed analysis of the results for the quarter ended 31st December 2022 has been uploaded on the Tata Communications website and can be accessed here.
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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