Company being repositioned as ‘CommTech’ leader
A “Fit to Grow” strategy is now in motion at Tata Communications which is also repositioning as a “CommTech” leader in the Indian and International markets.
A.S. Lakshminarayanan, MD and CEO, Tata Communications, said on 20 Apr 2023, “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.”
Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, elaborated, “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,” he said on announcing the Q4 and FY2023 financial results.
Highlights| Q4 & FY2023 – full year ended 31st March 2023:
Consolidated revenue for FY23 came in at Rs.17,838 crores (US$2,220.3 million) and at Rs.4,569 crores (US$555.2 million) for Q4 FY23.
Consolidated EBITDA stood at Rs.4,318 crore (US$537.5 million); with margins at 24.2%, declining by 110 Bps YoY. For the quarter, margin came in at 22.6%.
Consolidated PAT stood at Rs.1,796 crore (US$223.5 million) as compared to a profit of Rs.1,482 crore (US$198.9 million) in FY22, registering a growth of + 21.2% YoY.
Committed CAPEX for the year was Rs.1,689 crore (US$210.2 million) as compared to Rs.1,608 crores (US$215.9 million) in FY22. fiinews.com
