Lakshminarayanan says company witnessed good sequential growth in data business
Tata Communications continued to focus on providing holistic solutions to customers and accelerating their digital transformations, the company’s MD and CEO A.S. Lakshminarayanan said on announcing the latest financial results.
“We witnessed another quarter of good sequential growth in our data business, with digital platforms and solutions delivering robust results,” he said on 20 Jan 2022.
“We are pleased with the growth in revenue as well as profitability during Q3 FY22,” added Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications.
“Our performance demonstrates sustained progress in our journey towards our financial fitness. Healthy improvement in free cash flows and reduction in net debt provides us headroom to invest for future growth,” he said.
Tata Communications says sequential growth in Data business continues for the quarter and nine months ended 31 Dec 2021.
Revenues were at Rs.3,233 crore, growing by +3.0% QoQ and +3.4% YoY. All 3 segments (Core Connectivity, Digital Platforms, & Incubation services) of Data business witnessed healthy growth.
Digital Platforms and Solutions continue to improve and gain growth momentum, revenues grew by +5.2% QoQ and +6.7% YoY
Within Digital Platforms, all segments except Collaboration witnessed double digit YoY growth and strong sequential growth.
Core Connectivity witnessed a revenue growth of +1.6% QoQ and +1.3% YoY.
Consolidated revenue came in at Rs.4,185 crore (US$558.5 million); growth of +0.3% QoQ and a decline of -0.9% YoY.
Consolidated EBITDA was Rs.1,082.5 crore (US$144.5 million); an increase of +3.5% YoY, with margins in at 25.9%, expanding by 110 BPs as compared to same quarter last year
Consolidated PAT was Rs.395 crore (US$52.8 million), growth of + 27.8% YoY. fiinews.com
