CFO focused on relentless execution of investments to create value
Planned investments by Tata Communications in the organic and inorganic opportunities are in line with the company’s ‘Fit to Grow’ Strategy, says Chief Financial Officer Kabir Ahmed Shakir.
“Our focus now is on relentless execution of these investments to accelerate the value creation process,” he said on 20 Oct 2023 at the announcement of Q2 FY24 results.
MD and CEO A.S. Lakshminarayanan announced the accelerated closure of the Kaleyra Inc transaction which will enable Tata Communications to create a new digital platform category – Customer Interaction Suite – in line with the management ambitions.
“With the fast-tracked integration of The Switch, we are witnessing synergies being realised,” he said.
“Overall, we remain confident of the long-term opportunities and will continue to invest in the product portfolio to strengthen our value proposition to enterprises,” said Lakshminarayanan as he reported 14% YoY revenue growth for the quarter.
The company’s consolidated revenue stood at Rs.4,872 crore (US$589.5 million), increasing +10% YoY.
Consolidated EBITDA came in at Rs.1,015 crore (US$122.8 million).
Consolidated PAT was Rs. 221 crores (US$26.6 million).
Cash CAPEX for the quarter stood at US$71 million. Fiinews.com
