Shares of Tanla Platforms were locked at the 5 per cent upper circuit for the second straight day, at Rs 1,115.60 on the BSE on Monday after the company reported strong earnings for the quarter ended September 2021 (Q2FY22).
The stock of the country’s largest CPaaS provider was trading at its new high and has rallied 36 per cent in the past one month. In comparison, the S&P BSE Sensex was up 1.8 per cent during the same period. On Thursday, October 21, 2021, Tanla Platforms surpassed its previous high of Rs 1,030 touched on March 2021. Till 01:19 pm; around 90,000 shares had changed hands and there were pending buy orders for 660,000 shares on the NSE and BSE.
For Q2FY22, Tanla Platforms posted 67 per cent year on year (YoY) jump in its profit after tax (PAT) at Rs 136 crore, on back of healthy operational performance. The company’s revenue increased by 44 per cent YoY at Rs 842 crore. Earnings before interest, tax, depreciation and amortization (ebitda) margin improved by 452 basis points (bps) at 21.2 per cent.
The company’s stellar performance during the quarter was contributed by higher wallet share from existing customers and additional market share expansion from newer clients. The growth was led by BFSI, retail, social media and government.
The management said it was seeing a very strong demand environment in India, as enterprises accelerate digital adoption. “We are seeing growth in existing customers, driven by increase in volumes as well as new use cases. Entry of new age companies in areas of ad-tech, ed-tech, fintech and gaming is also adding to market growth. Growth is led by BFSI. We are also seeing strong traction in areas like retail, e-commerce and Government, We are growing significantly faster than the industry and gaining revenue market share,” said Uday Reddy Founder Chairman & CEO of Tanla Platforms.