Tata Communications: Q4 disappoints, but scope for signals to improve

Tata Communications reported disappointing results for the January-March quarter (Q4) of financial year 2023-24 (FY24), with flat revenues and lower Eb­itda margins. The consolidated revenue grew 1 per cent quarter-on-quarter (Q-o-Q) to Rs 5,690 crore in Q4FY24. Data revenue too grew at 1 per cent Q-o-Q.
 

Adjusted for the acquisitions of Switch and Kaleyra, consolidated revenues and data revenues were flat Q-o-Q. For the last two quarters, adjusted data revenue has been flat Q-o-Q or sequentially. The acquired businesses’ revenue grew 4 per cent Q-o-Q to Rs 950 crore. Consoli­dated Ebitda declined 7 per cent Q-o-Q to Rs 1,060 crore