The lockdown and work-from-home has most certainly helped Tata Communication as it led to an increase in bandwidth usage and this in turn boosted the company’s earnings. Lower operating costs with employees working from home also aided the jump in bottomline.

For Q1FY21, the company posted a 236% (YoY) surge in consolidated net profit at Rs.258 crore. This was on a 6% jump in revenue at Rs.4403 crore. Its revenue from data jumped 10% to Rs.3604 crore.

Its EBITDA for the quarter was up 26% at Rs.1402 crore and margins expanded by a good 390 bps to 23.7%.

The company said, “enterprises have upgraded their capacities and are consuming more data to support this work model. Consequently, our India enterprise business grew 6.7% y-o-y and international enterprise business grew 8.3% y-o-y on the back of strong demand.”

Its net debt at end of current Q1 stood at Rs.9008 crore v/s Rs.9176 crore (QoQ).

Its active subscriber base stood at 5297 v/s 5423 (QoQ) and 5210 (YoY).

The stock, which had closed yesterday at Rs.723.65, opened 5% higher, going on to hit a new high at Rs.759.80, with volumes jumping up almost 2.5 times.