Data Revenue continues double-digit growth momentum
Tata Communications, a global digital ecosystem enabler, today announces its financial results for the quarter ended 30th September 2023. The Data business grows to INR 3,995 Crores in Q2 FY24, registering a growth of 14.4% YoY.
City Air News
Oct 19, 2023 07:23
0
Mumbai: Tata Communications, a global digital ecosystem
enabler, today announces its financial results for the quarter ended 30th September 2023. The
Data business grows to INR 3,995 Crores in Q2 FY24, registering a growth of 14.4% YoY.
Highlights|Q2 FY24
Consolidated financial highlights
• Consolidated revenue stood at INR 4,872 crore (USD 589.5 Mn); increasing +10% YoY.
• Consolidated EBITDA came in at INR 1,015 crore (USD 122.8 Mn); margins at 20.8%;
Underlying EBITDA Margins at 21.7%.
• Consolidated PAT at INR 221 Crores (USD 26.6 Mn).
• Cash CAPEX for this quarter stood at USD 71 Mn.
Data Services Portfolio
• Data business revenues came in at INR 3,995 crore (USD 483.3 Mn), recording an increase
of + 14.4% YoY; Underlying Data Revenue growth came in at + 10% YoY.
• Data EBITDA stood at INR 913 crore (USD 110.4 Mn), down 9.3% YoY because of organic and
inorganic investments.
• The Core Connectivity business reported + 6.9% YoY growth in revenue.
• Digital Portfolio delivered robust growth of + 30.2% YoY driven by growth across the Cloud
and Next Gen Connectivity segments and integration of The Switch.
Commenting on the results, A.S. Lakshminarayanan, MD and CEO, Tata Communications, said,
“We are pleased to announce a robust 14% YoY revenue growth this quarter. With the fast-
tracked integration of The Switch, we are witnessing synergies being realised. Besides this, we
are happy to announce the accelerated closure of the Kaleyra Inc. transaction which will enable
us to create a new digital platform category - Customer Interaction Suite - in line with our
ambitions. 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.”
Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications said, “Our planned
investments in the organic and inorganic opportunities are in line with our ‘Fit to Grow’ Strategy.
Our focus now is on relentless execution of these investments to accelerate the value creation
process."
