Tata Communications‘ share price, which was already trailing in the red on Thursday, slumped further after the company posted its results for the quarter ended September.

What Happened: The company’s net profit for the quarter crawled up around 3% to ₹227.2 crore, compared with the ₹220 crore profit booked in the same quarter last year.

Revenue from operations came in at ₹5,767.3 crore, an 18% jump from the ₹4,872 crore posted in the corresponding quarter of the previous year. “Income from operations for the quarter and half year ended September 30, 2024, includes other operating income of ₹86.47 crores towards the reversal of aged customer credits,” the company said in the filing.

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For the quarter ended September 30, 2024, Voice Solutions segment generated ₹425.48 crore in revenue, down slightly from ₹428.68 crore in the same period last year but up from ₹422.69 crore in the previous quarter.

Data Services, the largest segment, reported revenue of ₹4,854.42 crore, showing major growth compared to ₹4,007.15 crore in Q2FY23.

The Payment Solutions segment posted ₹31.95 crore in revenue, down from ₹39.44 crore in the same period last year and ₹35.56 crore in the previous quarter.

Transformation Services revenue saw a decline to ₹286.38 crore, compared to ₹384.54 crore in Q2FY23 and ₹308.32 crore in the prior quarter.

Price Action: Tata Communications’ share price was down 4.32% to trade at ₹1,839.40 in the late hours of trading on Thursday.

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