Tata Communications today announces its financial results for the quarter ended September 30th, 2020.
|QoQ Growth||YoY Growth|
|EBITDA margin||26.3%||260 Bps||680 Bps|
Commenting on the results, A.S Lakshminarayanan, MD and CEO, Tata Communications, said, “We have had a strong performance in Q2, as we continue to deepen our customer engagements and support enterprises to seamlessly embark and advance on their digital transformation journeys. Leveraging the shift to cloud-first, internet-first strategies, we are innovating across our portfolio to offer solutions that are tailored to this new digital-first world. We see great opportunities ahead, as organisations look to harness the power of technology to transform their business models and drive competitive differentiation and sustainable development.”
Commenting on the results, Pratibha K. Advani, Chief Financial Officer, Tata Communications, said, “Data business continues to grow at a healthy pace and profitability has improved due to our focus on operational efficiencies. Our margins have expanded, and we have witnessed 3 successive quarters of double-digit EBITDA growth leading to strong PAT. There has been a robust improvement across all financial parameters; our profitability and cash flow generation has improved significantly in the last few quarters leading to a stronger balance sheet for the future.”
An investor fact sheet providing detailed analysis of the results for the quarter ended September 30th, 2020 has been uploaded on the Tata Communications website and can be accessed here.
Tata Communications is a digital ecosystem enabler that powers today’s fast-growing digital economy.
The company enables the digital transformation of enterprises globally, including 300 of the Fortune 500 – unlocking opportunities for businesses by enabling borderless growth, boosting product innovation and customer experience, improving productivity and efficiency, building agility and managing risk.
With its solutions orientated approach and proven managed service capabilities and cutting-edge infrastructure, Tata Communications drives the next level of intelligence powered by cloud, mobility, Internet of Things (IoT), collaboration, security, and network services.
Tata Communications carries around 30% of the world’s internet routes and connects businesses to 60% of the world’s cloud giants and 4 out of 5 mobile subscribers.
The company’s capabilities are underpinned by its global network, the world’s largest wholly owned subsea fibre backbone and a Tier-1 IP network with connectivity to more than 200 countries and territories.
Tata Communications Limited is listed on the Bombay Stock Exchange and the National Stock Exchange of India.
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.