Tata Communications advanced 3.43 per cent to Rs 1,235.95 after the Tata Group company reported a 25.13 per cent rise in net profit to Rs 532.29 crore on a 6.15 per cent increase in net sales to Rs 4,430.74 crore in the second quarter of FY23 over the second quarter of FY22.

On a standalone basis, the net profit slipped 2.11 per cent while net sales rose 2.79 per cent in the second quarter of FY23 over the first quarter of FY22. 

EBITDA stood at Rs 1,130 crore in the second quarter of FY23, registering a growth of 4.9 per cent QoQ and a rise of 1.5 per cent YoY. Margins improved to 25.5 per cent in the second quarter of FY23.

The company profit before tax grew 12 per cent to Rs 593.18 crore in the second quarter of FY23 compared with Rs 529.59 crore recorded in Q2FY22. Cash CAPEX for this quarter stood at $52.7 million relative to $52.9 million in the second quarter of FY22.

Data business revenues of Tata Comm came in at Rs 3,493 crore, recording an increase of 11.2 per cent yearly. The company witnessed strong momentum across all offerings in the Data portfolio. EBITDA stood at Rs 1,007 crore, up 3.9 per cent quarter on quarter.

The Core Connectivity portfolio reported growth of 5.9 per cent year on year in revenue, and EBITDA enhanced by 7.5 per cent year on year, with margins coming in at 46.6 per cent. Digital Platforms and Services delivered robust growth of 16.5 per cent year on year and 6.1 per cent quarter on quarter. 

AS Lakshminarayanan, MD and CEO of Tata Communications, declared the results, “We are pleased to announce robust data revenue growth and healthy profits in the second quarter of this fiscal. Our international markets are witnessing good growth, and our continued efforts to shift from products to platforms yield positive results.”

More than 190 countries, including territories Tata Communications is a global digital ecosystem enabling powering India’s fast-growing digital economy. It also enables the digital transformation of enterprises globally with collaboration and connected solutions, cloud hosting and security solutions, core and next-gen connectivity and media services.