Tanla Solutions posts consolidated profit of Rs 78 cr in June quarter

Communication services firm Tanla Solutions on Wednesday posted a consolidated profit of Rs 78.6 crore in the first quarter ended June 30, 2020.

The company had registered a loss of Rs 75.7 crore in the same quarter a year ago.

"Tanla's quarterly performance bucks the trend amidst the raging pandemic disrupting global economies. Our unique market standing as a leading digital and cloud communications player have resulted in robust topline and bottomline growth both year-on-year and quarter-on-quarter," Tanla Chairman and Managing Director Uday Reddy said in a statement.

The company's total income grew 17.4 per cent to Rs 468.77 crore during the reported quarter from Rs 399.27 crore in the corresponding quarter of 2019-20.

During the quarter under review, Tanla signed 80 new customers, with an annual potential revenue of Rs 80 crore, across various sectors, including e-commerce, BFSI (banking, financial services and insurance), EdTech, telecom, among others, the statement said.

The Hyderabad bench of the National Company Law Tribunal (NCLT) approved the merger of Karix Mobile Private Limited and Unicel Technologies Private Limited with Tanla Corporation Private Limited on June 30, 2020.

"As approved in the NCLT Order, Tanla shall be named as Karix subject to regulatory approvals," it added.