Tata Communications Limited on April 17 reported a 1.5 percent fall in consolidated net profit at Rs 321.2 crore for the quarter ended 31 March, 2024. The company had reported a net profit at Rs 326 crore in the year-ago period.
Revenue from operations increased 24.6 percent to Rs 5,691.7 crore as against Rs 4,568.7 crore in the same quarter last fiscal.
Tata Communications EBITDA, or earnings before interest, taxes, depreciation, and amortization was up 2.1 percent at Rs 1,056.3 crore while its EBIT margin decreased to 18.6 percent from 22.6 percent.
The company also said that its board has recommended a final dividend of Rs 16.70 per share for the financial year ended March 31, 2024. This dividend, upon approval of the shareholders at the ensuing Annual General Meeting (AGM), shall be paid to eligible shareholders after its conclusion.
It has also re-appointed A.S. Lakshminarayanan as Managing Director and CEO of the company for the second term commencing from November 26, 2024 till April 13, 2026, subject to approval of the shareholders.
Shares of Tata Communications on April 17 closed 1.32 percent lower at Rs 1884.05 apiece on BSE ahead of earnings.
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