Acquisitions of Oasis, The Switch and Kaleyra created new avenues for growth and innovation
Tata Communications has reported another quarter of robust growth as data revenue crossed the Rs.4,000 crore mark with digital services contributing 45%, in line with the company’s strategy.
“Even as we increase our impetus on people and platforms to deliver long-term value, our acquisitions of Oasis, The Switch and Kaleyra have created new avenues for growth and innovation. We remain confident about our medium-term ambitions,” AS Lakshminarayanan, MD and CEO, Tata Communications, said in the financial report released on 18 Jan 2024.
Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, elaborated, “We are extremely encouraged that Kaleyra has turned EBITDA positive in the first quarter itself, in line with our ‘Fit to Grow’ strategy. EBITDA was up 5.3% to Rs.1,134 crore for Q3 ended 31 Dec 2024 from Rs.1,077 crore for the corresponding quarter of 2023.
“We are excited about the medium term as we see multiple levers to maximise value from both our organic and inorganic investments. We continue strongly on the new growth trajectory with robust cash flow generation as the focus.”
The Q3 saw Singapore Airlines partners with Tata Communications to enhance customer experience for their discerning customers, and JLR to digitally transform organisation through partnership with Tata Communications.
Gross revenue for Q3 increased 24.4% to Rs.5,633 crore from Rs.4,528 crore a year ago.
But profit after tax fell 88.6% to Rs.45 crore for quarter ended 31 Dec 2023 from Rs.394 crore Q3 of last fiscal year. fiinews.com
