All Rights Reserved Finance News 2020.
Tata Communications’ profit after tax jumps over 3-fold to Rs 258 cr in June quarter
Tata Communications on Thursday placed over threefold jump in its consolidated profit after tax to Rs 258 crore in the first quarter ended June 30, around the back of jump in records business. The company had signed up a profit of Rs 77 crore in the related period of the previous year.
“Due to lockdown and universal remote working, we are witnessing enhanced bandwidth usage and increased collaboration traffic. Enterprises possess upgraded their capacities and therefore are consuming more data to support this work type,” Tata Communications claimed in a statement.
Tata Marketing communications Chief Financial Officer Pratibha K Advani said you can actually data portfolio recorded the double-digit growth of 10 percent y-o-y with a robust difference expansion of 460 base points.
Its India venture business grew 6.several per cent year-on-year (y-o-y) as well as international enterprise business increased 8.3 per cent y-o-y on the back of strong requirement which led to a growth in both revenue together with profitability, the statement claimed.
The firm’s consolidated earnings from operations rose five.6 per cent to Rs 4,403 crore through the quarter, from Rs some,168.62 crore this past year.
“We have started the new financial year with sturdy performance amid an unstable and unpredictable economic environment. Technology is increasingly defining together with shaping the experiences in the new world,” Tata Marketing communications MD and CEO A new S Lakshminarayanan said in a statement.
He added it can easily become even more strategically main as businesses look to adopt new ways of functioning and transform how they operate.