Tata Comm records PAT of Rs 321 crore in Q4; declares dividend of Rs 16.70 /share

Tata Communications said that its net profit fell 1.49% to Rs 321.18 crore in Q4 FY24 as compared with Rs 326.03 crore in Q4 FY23.

Revenue from operations jumped 24.6% to Rs 5,691.70 crore in Q4 FY24 as compared with Rs 4,568.26 crore posted in corresponding quarter last year.

Profit before tax declined 40.01% YoY to Rs 207.20 crore in Q4 FY24.

EBITDA stood at Rs 1,056 crore during the quarter, registering the growth of 2.1% as compared with Rs 1,034 crore posted in same quarter last year. EBITDA margin narrowed by 408 bps to 18.6% in Q4 FY24 as against 22.6% in Q4 FY23.

Data revenue jumped 26.9% to Rs 4,656 crore during the quarter as compared with Rs 3,670 crore posted in corresponding quarter last year.

On FY2024 basis, the companys net profit dropped 46.08% to Rs 1795.96 crore in FY24 as compared with Rs 1795.96 crore posted in FY23. Revenue from operations jumped 17.55% YoY to Rs 20,968.82 crore in FY24.

AS Lakshminarayanan, MD and CEO, Tata Communications, said: We are pleased to report the significant revenue milestone of Rs 20,000 crore. We closed FY24 with strong execution and our digital fabric is witnessing increased relevance from enterprise customers. As we enter the next fiscal, our firm focus will remain on integrating our acquisitions, executing our strategies, and driving sustainable and profitable revenue growth.

Kabir Ahmed Shakir, chief financial officer, Tata Communications, said: FY24 was an eventful year as we witnessed our finance strategy in action, enabling us to successfully complete three strategic acquisitions on the back of a strong balance sheet. Our financial performance is in line with our expectations as we continue to capture newer business opportunities and accelerate our growth path. With the right operating levers in place, we are confident of our financial performance indicators returning to their ambition range in the medium term.

Meanwhile, the companys board has declared a final dividend of Rs 16.70 per share for FY24.

Further, the companys board has approved the re-appointment of A.S. Lakshminarayanan as managing director and CEO for a second tenure commencing from November 26, 2024 till April 13, 2026.

Tata Communications is a global digital ecosystem enabler powering today's fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services.

The scrip rose 0.79% to Rs 1,899 on the BSE.

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