Tata Communications FY21 net profit at Rs1,251 crore, an 11-year high
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Consolidated earnings before interest, tax, depreciation and amortization (Ebitda) or operating performance of Tata Communications increased 29.5% y-o-y to ₹4,261 crore during FY21.
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Tata Communications Ltd on Wednesday reported a net profit of Rs1,251 crore for the financial year ended March, a 11-year high, compared with a loss of Rs86 crore in fiscal 2020, driven by strong operating performance that rose about 30% year-on-year (y-o-y) due to sharp focus on operating structure and improving cost efficiency.
Consolidated earnings before interest, tax, depreciation and amortization (Ebitda) or operating performance increased 29.5% y-o-y to Rs4,261 crore during FY21. However, consolidated revenue was largely unchanged from a year ago at Rs17,100 crore. The company said, “Business environment has been impacted due to the pandemic and this has also affected our growth.
Tata Communications Ltd reports consolidated net profit of Rs 299 20 crore in Q4 FY2020-21
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Tata Communications Ltd Board recommends Final Dividend of Rs 14
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Telecom stocks were trading in green, with the S&P BSE Telecom index increasing 17.5 points or 1.32% at 1344.16 at 09:49 IST. Among the components of the S&P BSE Telecom index, HFCL Ltd (up 3.53%), Indus Towers Ltd (up 3.45%),ITI Ltd (up 3.25%),Vodafone Idea Ltd (up 2.71%),Mahanagar Telephone Nigam Ltd (up 1.87%), were the top gainers. Among the other gainers were Sterlite Technologies Ltd (up 1.12%), OnMobile Global Ltd (up 1%), Bharti Airtel Ltd (up 0.95%), Vindhya Telelinks Ltd (up 0.78%), and Tata Communications Ltd (up 0.71%). On the other hand, Tejas Networks Ltd (down 3.04%), turned lower.
At 09:49 IST, the S&P BSE Sensex was up 208.09 or 0.43% at 48594.6.
The Nifty 50 index was up 64.8 points or 0.45% at 14549.8.