Tata Communications Ltd on Wednesday reported its fiscal fourth quarter profit at Rs 321.18 crore, down 1.5 per cent on-year in comparison to Rs 326.03 crore during the same period last year. It posted revenue from operations at Rs 5,691.70 crore, up 24.6 per cent as against Rs 4,568.66 crore during the fourth quarter of FY23. The company EBITDA stood at Rs 1,056.3 crore, up 2.1 per cent in comparison to Rs 1,034.3 crore last year.
The company also announced a final dividend of Rs 16.70 per share (face value of Rs 10 each) 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,” the company said in a regulatory filing.
For the financial year 2023-24, Tata Communications recorded a consolidated revenue jump of 17.5 per cent at Rs 20,969 crore. The company said that data revenue crossed the Rs 17,000 crore mark, growing by 21.9 per cent on a full-year basis. Digital Portfolio, meanwhile, witnessed a broad-based growth across all offerings, improving by 55.4 per cent on a full year basis.
AS Lakshminarayanan, MD and CEO, Tata Communications, said, “We are pleased to report the significant revenue milestone of Rs 20,000 crore. We closed FY24 with strong execution and our digital fabric is witnessing increased relevance from enterprise customers. As we enter the next fiscal, our firm focus will remain on integrating our acquisitions, executing our strategies, and driving sustainable and profitable revenue growth.”
Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, said, “FY24 was an eventful year as we witnessed our finance strategy in action, enabling us to successfully complete three strategic acquisitions on the back of a strong balance sheet. Our financial performance is in line with our expectations as we continue to capture newer business opportunities and accelerate our growth path. With the right operating levers in place, we are confident of our financial performance indicators returning to their ambition range in the medium term.”
Furthermore, the company also announced the re-appointment of AS Lakshminarayanan as the managing director and CEO of the company, for a second tenure commencing from November 26, 2024 till April 13, 2026.