Tata Communications’ share price broke the three-day losing streak on Thursday as the company reported its Q4 earnings.
What Happened: The Tata Group company reported its earning for the quarter ended March on Wednesday. The company’s consolidated revenue from operations grew 7% year-over-year to ₹4,568.66 crore. A major part of the revenue was contributed by the data services vertical at ₹3,687.51, up 1% YoY.
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However, the company’s profits took a hit in the March quarter. Net profits were down 10.9% YoY and 17.23% sequentially to ₹326.03. The company’s EPS for the quarter stood at ₹11.4.
For FY23 (April 2022-March 2023) the company’s consolidated revenue stood at ₹17,838 crore up around 4.5%. Profit after tax for the year stood at ₹1,796, up 21.2% YoY.
The company also declared a final dividend of ₹21/share for FY23.
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Price Action: Tata Communications’ share price was up 1.46% to trade at ₹1,211.15 as the markets opened on Thursday.
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