Tata Communications Q3 net profit flat at Rs 394 crore

Digital platforms and services delivered growth of over 17.2 per cent, according to Tata Communications statement.

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 Q3 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).

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 in a statement, adding strong momentum in the digital platforms and services segment continued.

The core connectivity portfolio reported growth of over 6 per cent year-on-year in revenue, and the digital platforms and services delivered growth of over 17.2 per cent, according to the statement.

Tata Communications CEO A S Lakshminarayanan, said, "We are pleased to deliver another strong quarter with broad based growth in our Data business across India and international markets." Lakshminarayanan added: "Our expanding portfolio of digital fabric capabilities is enabling us to drive deeper customer engagements improving our funnel and order book."