Tanla Platforms rallies 40% in 2 weeks; stock hits new lifetime high

In Q3FY21, the company's Ebitda was up by 99 per cent to Rs 126.9 crore for the same period, crossing the Rs 100 crore mark for the first time

Shares of Tanla Platforms hit fresh record high and were locked in the 5 per cent upper circuit at Rs 960 on the BSE on Tuesday. Till 10:04 am, a combined around 100,000 equity shares had changed hands and there were pending buy orders for total 96,000 shares on the NSE and BSE, data show.

In the past two weeks, shares of the IT software products company have rallied 40 per cent after the company reported a stellar October-December quarter (Q3FY21) results. In comparison, the S&P BSE Sensex has declined 2.6 per cent during the same period.

India’s largest CPaaS provider delivered its best third quarter revenues. On a year-on-year basis, revenues grew 21 per cent to Rs 654 crore accounting for more than a third of last year’s annual revenues.

The earnings before interest, taxes, depreciation, and amortization (Ebitda) was up by 99 per cent to Rs 126.9 crore for the same period, crossing the Rs 100 crore mark for the first time while Ebitda margins improved 760 basis points (bps) to 19.4 per cent from 11.8 per cent.

Besides, the company also reported the highest ever net profit of Rs 93.5 crore, as against Rs 0.70 crore profit in a year ago quarter.

Tanla Platform’s said its growth in business for the quarter was propelled by 81 new client opportunities. These new deals could augment the annual revenue by Rs 90 crore, it said.

“Trubloq, the DLT platform built to enforce the TRAI regulation has seen massive adoption across enterprises, telemarketers and telcos. To date, we have on boarded more than 34,000 enterprises. Trubloq was only launched commercially in September, and now processes over 70 per cent of A2P traffic in India, topping 1 Billion interactions in a single day last month. Trubloq significantly bolstered Tanla’s revenues in the third quarter,” the company said in press release.