PAT grows 21.2% YoY I Digital Platforms & Services revenues increase by 15.5% I The Board recommends dividend of INR 21 per share
Mumbai, INDIA ,
April 19, 2023
Tata Communications, a global digital ecosystem enabler, today announces its financial results for the quarter and full year ended 31st March 2023.
Highlights | Q4 FY2023
Consolidated financial highlights
- Consolidated revenue for FY23 came in at INR 17,838 Crores (USD 2,220.3 Mn) and at INR 4,569 Crores (USD 555.2 Mn) for Q4 FY23
- Witnessed healthy growth across Core Connectivity, Digital Platforms & Services, and Incubation Services of Data business:
- Data business grew by 2.2% QoQ and 10.3% YoY
- Digital Platforms & Services grew by 2.3% QoQ and 15.5% YoY
- Core Connectivity revenue grew by +1.7% QoQ and +5.7% YoY
- Incubation portfolio grew by 9.4% QoQ and 116.6% YoY
- Consolidated EBITDA stood at INR 4,318 crore (USD 537.5 Mn); with margins at 24.2%, declining by 110 Bps YoY. For the quarter, margin came in at 22.6%
- Consolidated PAT stood at INR 1,796 crore (USD 223.5 Mn) as compared to a profit of INR 1,482 crore (USD 198.9 Mn) in FY22, registering a growth of + 21.2% YoY
- Committed CAPEX for the year was INR 1,689 Crores (USD 210.2 Mn) as compared to INR 1,608 Crores (USD 215.9 Mn) in FY22
- Free Cash Flow for FY23 was at INR 2,539 Crores
The Board has recommended a dividend of INR 21 per share as a result of the Company’s strong and consistent profitability.
|Gross Revenue (Data)
“I am pleased that we have met the Company ambition of double-digit data growth for the past three consecutive quarters and for the full year,” said A.S. Lakshminarayanan, MD and CEO, Tata Communications. “Our expanding digital portfolio coupled with improving relevance quotient across India and International markets is helping us reposition the Company as a ‘CommTech’ leader. We remain committed to our Reimagine strategy to deliver profitable growth by creating sustainable value for our customers.”
“Our business results are proof that the ‘Fit to Grow’ strategy is now in motion from concept to action and its success is evident in the full year double-digit data revenue growth. We are now building the Company for a new growth trajectory enabled by our strong cash flow generation,” said Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications.
An investor fact sheet providing detailed analysis of the results for the quarter and full year ended 31st March 2023 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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