India's Tata Communications Q3 net profit rises 28%

India's Tata Communications Q3 net profit rises 28%

Indian telecommunications company Tata Communications (previously known as Videsh Sanchar Nigam Limited) posted a 27.8% rise in consolidated net profit at INR 3.95 billion (GBP 40 million) for the third quarter ended December 2021.

The digital ecosystem enabler said in a regulatory filing that its total income declined marginally during the reported quarter to INR 42.03 billion as against INR 42.31 billion in the corresponding quarter of 2020-21.

"Digital Platforms and Solutions continue to improve and gain growth momentum, revenues grew by +5.2% QoQ and +6.7% YoY. Within Digital Platforms, all segments except Collaboration witnessed double-digit YoY growth and strong sequential growth. Core Connectivity witnessed revenue growth of +1.6% QoQ and +1.3% YoY," said the company.

A.S Lakshminarayanan, MD and CEO, Tata Communications, said, “We witnessed another quarter of good sequential growth in our data business, with digital platforms and solutions delivering robust results. We continue to focus on providing holistic solutions to our customers and accelerating their digital transformations.”

Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, said, “We are pleased with the growth in revenue as well as profitability during Q3 FY22. Our performance demonstrates sustained progress in our journey towards our financial fitness. Healthy improvement in free cash flows and reduction in net debt provides us the headroom to invest for future growth.”

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