Digital Platforms and Services show gradual recovery
As the global industries recover, Tata Communications continues to maintain sharp focus on the needs of its customers, in line with the rapidly changing trends and evolving digital needs, MD and CEO A.S Lakshminarayanan said in a quarterly report on 21 Oct 2021.
“Delivering a sequential growth on a quarter-on-quarter basis after three quarters of decline is a positive indicator which we will continue to build on. The second quarter of FY22 was marked by recovery with favourable underlying trends as economic activities normalise,” he said of the pandemic-hit global economies.
Digital Platforms and Services have started to show gradual recovery on a quarterly basis, he added.
Tata Communications CFO Kabir Ahmed Shakir added, “Our performance in the second quarter demonstrates a continued improvement in revenue supported by improvement in profitability and build-up of free cash flow. We continue to strengthen our balance sheet and invest for future growth as we evolve as a trusted partner for our customers, enabling their digital transformation journey.”
Consolidated revenue came in at Rs.4,174 crore (US$563 million), a growth of +1.7% QoQ and 5.2% decrease YoY. Sequential growth is on account of gradual recovery across both Data and Voice segments, Tata Communications said.
Consolidated EBITDA stood at RS.1,113 crore (US$150 million), an increase of +12.9% QoQ and a decrease of 3.9% YoY with margins at 26.7%. Margin expanded by 260 BPs QoQ and 40 BPs on a YoY basis.
Consolidated Profit After Tax (PAT) is at Rs.425 crore (US$57 million) as compared to a profit of Rs.385 crore in Q2 FY21, registering a growth of +10.6% YoY and 43.7% QoQ.
CAPEX for this quarter was at Rs.392 crore as compared to Rs.318 crore in Q2 FY21. #technology #exports #investment /fiinews.com
