Tanla Platforms hits record high after robust Q2 performance

Tanla Plaforms was locked in an upper circuit of 5% at Rs 1,062.5 after the IT software company posted a 67% increase in net profit to Rs 136.17 crore on a 44.3% rise in net sales to Rs 841.62 crore in Q2 FY22 over Q2 FY21.

On a sequential basis, net profit rose 30% while net sales jumped 44.3% in Q2 FY22 over Q1 FY22. Profit before tax grew nearly 32% quarter on quarter and 85% year on year to Rs 170.8 crore in Q2 FY22.

Consolidated EBITDA increased by 83% year-over-year to Rs 178.7 crore in Q2 FY22. EBITDA margin improved by 452 basis points year on year to 21.2% in Q2 FY22.

The company's customer base expanded with addition of 87 new customers. Revenues from >Rs 10 million+ customers grew by 46% year-over-year.

Uday Reddy, founder chairman & CEO of Tanla Platforms said, Our stellar performance was contributed by higher wallet share from existing customers and additional market share expansion from newer clients.

Free cash flow stood at Rs 221.7 crore in Q2 FY22, rising 45% year on year. Cash & Cash Equivalents stood at Rs 845.7 crore for the quarter ended September 2021.

Shares of Tanla Platforms hit an all time high of Rs 1,062.5 in intraday today.

Tanla Platforms, is one of the world's largest CPaaS players, processes more than 800 billion interactions annually and about 62% of India's A2P SMS traffic is processed through its distributed ledger platform.

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