Tanla Platforms hits new high on heavy volumes, zooms 992% from March low

For the September quarter, the company reported a net profit of Rs 81.5 crore.

Shares of Tanla Platforms (formerly Tanla Solutions) hit a record high of Rs 415, up 5 per cent on the BSE on Tuesday on the back of heavy volumes. The stock was locked in the upper circuit limit for the fourth straight day after the company has been included in MSCI India Domestic Small Cap index.

The counter witnessed huge trading activities today, with a more than 10 per cent total equity of Tanla Platforms changing hands on the BSE. Till 03:10 pm, around 15.05 million equity shares, representing 11 per cent of equity, changed hands on the BSE, the exchange data shows. There were pending buy orders for around 131,000 shares, data shows.

The stock has zoomed 992 per cent from its 52-week low of Rs 38, touched on March 24, 2020. In comparison, the S&P BSE Sensex was up 71 per cent during the same period.

Meanwhile, cloud communications provider Tanla Platforms recorded best ever quarter driven by Communications Platform as a Service (CPaaS) and digital revenues. In September 2020 quarter (Q2FY21), the company reported a net profit of Rs 81.5 crore against a net loss of Rs 47 crore in the corresponding quarter of the previous year.

The company’s revenue stood at Rs 583 crore, registering an increase of 20 per cent year-on-year. Its EBITDA (earnings before interest, taxes, depreciation, and amortisation) jumped 210 per cent to Rs 97.5 crore, while margin expanded to 16.7 per cent from 6.5 per cent in Q2FY20.

The company said it witnessed 89,203 enterprises and 6,339 telemarketers registered on the DLT platform. In the first commercial go-live month of September, Tanla’s Trubloq handled 70 per cent of the total DLT traffic which is 35 billion, it said.