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.
See Also: Chart: Has Shark Tank India Broken Its Promises? Ashneer Grover Says He Hasn’t
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.
Get Ring The Bell, Benzinga India’s weekly briefing. Designed specifically for investors like you.
Price Action: Tata Communications’ share price was up 1.46% to trade at ₹1,642 as the markets opened today.
Read Next: Tata’s New Multi-Billion Dollar Battery Plant In The UK Promises To Create 4,000 Jobs
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.