Tata Communications Q3 profit falls 89% to Rs 45 crore

Tata Communications Q3 results: Telecommunications company Tata Communications on Thursday reported a net profit of Rs 44.8 crore in the December quarter (Q3FY24), down nearly 89 per cent, from Rs 393.9 crore in the same quarter last year.

During the quarter, the company posted an exceptional loss of Rs 185.5 crore.

However, its revenue soared over 24 per cent to Rs 5,633.3 crore in the December quarter, from Rs 4,528 crore a year ago.

Tata Communications’ earnings before interest, tax, depreciation and amortisation (EBITDA), also known as operating profit, jumped over 5 per cent to Rs 1,134.3 crore, as against Rs 1,077.4 crore in the same quarter previous fiscal.

The telecom company’s margin squeezed 365 basis points to 20.1 per cent, from 23.8 per cent.

The market capitalisation of the company is Rs 49,896 crore, according to BSE.

As of 2:51 pm, shares of the company were trading over 3 per cent higher at Rs 1,751.40.