Tata Communications shares fall over 4 pc post Q3 earnings

NewsDrum Desk
24 Jan 2023

New Delhi, Jan 24 (PTI) Shares of Tata Communications Ltd ended over 4 per cent after the firm reported a fall in its net profit for the third quarter.

The stock plunged 4.63 per cent to settle at Rs 1,319.60 apiece on the NSE.

On the BSE, it tumbled 4.26 per cent to end at Rs 1,324 per share.

The 30-share BSE Sensex indice gains 37.08 points or 0.06 per cent at 60,978.75 on Tuesday.

Tata Communications on Monday reported a consolidated net profit of about Rs 394 crore for the just-ended December 2022 quarter, a tad lower than the year-ago period.

The third quarter of FY23 net profit was 0.3 per cent lower than last year's figure of about Rs 395 crore (profit for the period attributable to equity holders of the parent), the company said in a regulatory filling.

Seen sequentially, the net profit was down 26 per cent from the September quarter.

Tata Communications' consolidated revenue for the quarter ended December 2022 came in at about Rs 4,528 crore, 8.2 per cent higher on-year.

Data business revenues stood at Rs 3,593 crore, recording an increase of 11.1 per cent on-year, the company said, adding, strong momentum in the digital platforms and services segment continued. PTI HG SHW

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