Why This Tata Stock Is Upbeat Today

Shares of Tata Communications continued gains for the second straight session on Thursday as the Tata Group company reported its earnings for the quarter ended March.

What Happened: The company’s consolidated profits went down close to 30% at ₹381.69 crore from the ₹543.76 crore it booked in the same quarter last year. The number was in line with consensus estimates of around ₹350 crore.

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The company’s revenue from operations stood at ₹4,771.4 crore up 10.69% from the ₹4,310.52 crore revenue it booked in the same period last year.

EBITDA for the quarter stood at ₹1,024, down 5%, year on year. EBITDA margin came in at 21.5%. Earnings per share for the quarter came in at ₹13.39.

The company’s earnings call is scheduled for later today.

Price Action: Tata Communications’ share price was up 1.46% to trade at ₹1,642 as the markets opened today.

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Posted In: EquitiesMarketsTata CommunicationsTata Group