Tata Comm at 10%UC

Tata Communications, for Q1FY23 posted a 84% (YoY) rise in consolidated net profit at Rs.544 crore on a 5% rise in revenue at Rs.4310 crore.

EBITDA showed a 9% rise at Rs.1077 crore.

The company’s data business revenue was up almost 8% at Rs.3340 crore. It added that digital platforms and services delivered robust growth of 12.3%

The company added that the core connectivity portfolio reported a growth of 3.6% in revenue, while EBITDA increased 2.6% with margins at 42.5%.

The stock price has reacted very positively to this news, figuring among the top five gainers; the price rose 10% to hit the UC of the day at Rs.1077.65, where it now stays frozen.