Tanla Platforms hits the roof after signing parternship deal with Vi

Tanla Platforms was locked in an upper circuit of 5% at Rs 1,675.90 after the company announced a partnership with Vodafone Idea for providing solutions for entire international messaging traffic on the Vi network.

India's international messaging market is estimated to be Rs 3500 crore annually. The partnership is centred on Wisely - a cloud-based platform co-developed with Microsoft, set to lead the global enterprise market in digital interactions and is expected to go-live in Q4 FY21-22. The platform powered by block chain ensures complete transparency and a single source of truth resulting in immutable audit trails and zero dispute settlements. Further, the platform will ensure compliance to all applicable regulations.

Uday Reddy, founder chairman & CEO of Tanla Platforms said, Our partnership with Vi, powered by Wisely platform, is a massive step forward to lead the global digital interactions space. Wisely platform is a win-win proposition for all stakeholders - consumers, global enterprises, suppliers, and regulators, as we are committed to innovate with the entire ecosystem in mind. I am confident this partnership will help expand our global footprint by addressing the needs of global enterprises not just in India but across the world. It gives me great inspiration to expand our longstanding partnership with Vi in our joint pursuit to move all digital interactions to a secure and trusted platform.

Shares of Tanla Platforms hit a record high of Rs 1,675.90 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.

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.

Powered by Capital Market - Live News