Tata Communications posts 10.7% decline in Q4 net profit, declares final dividend

Tata Communications' board recommended a final dividend of Rs 21 per share

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Tata Communications on April 19 posted a net profit of Rs 326 crore in the fourth quarter of fiscal year 2022-23, which is 10.7 percent lower as against Rs 365 crore recorded in the year-ago period.

The net profit also dropped by 17 percent sequentially, as it had came in at Rs 394 crore in the December 2022 quarter.

For the entire FY23, however, the net profit increased to Rs 1,801 crore from Rs 1,485 crore in the previous year.

The consolidated revenue from operations came in at Rs 4,568 crore in the fourth quarter, which is 7.2 percent higher as compared to Rs 4,263 crore clocked in the year-ago period.

Sequentially, the revenue clocked was marginally higher, as it came in at Rs 4,526 crore in the third quarter.

For the entire fiscal, the revenue from operations stood at Rs 18,201 crore, which is higher as against Rs 17,056 crore clocked in FY22.

The company, on the recommendation of its board, declared a final dividend of 21 per share of the face value of Rs 10 each for the fiscal year ended March 31, 2023.

The results showed that the earnings before interest, taxes, depreciation, and amortisation (EBITDA) went down to 1.1 percent at Rs 1,034.2 crore in Q4FY23,  from Rs 1,045.3 crore in the corresponding period of the preceding year.

The shares of Tata Communications ended in the red ahead of the results being declared. The scrip settled at Rs 1,193.70 apiece at the BSE, which was 1.6 percent lower than the previous day's close.