Tata Communications share price up under 1% after Q4 result, but logs 56% gains in one year - Hindustan Times
close_game
close_game

Tata Communications share price up under 1% after Q4 result, but logs 56% gains in one year

Apr 18, 2024 02:18 PM IST

Tata Communications share price has stayed in the green today, a day after revealing its quarterly result.

Just a day after the announcement of its Q4 results, Tata Communications share price has stayed in the green at just under 1%. Tata Communications reported a whopping increase in its net profit to 321.52 crore, from 45.1 crore in the third quarter. However, this figure was down by 1.5% from 326.42 crore for the same quarter a year ago. At the same time Tata Com also reported consolidated Q4 revenue rising 24.6% year-on-year to 5,692 crore; Ebitda increased by 2% to 1,056 crore. Margins on the other hand, declined to 18.6% from 22.6% a year ago and profit margins slipped 156 basis points to 5.6% for the quarter.

Tata Communications revealed its Q4 numbers yesterday.(Image credit: Pexels)
Tata Communications revealed its Q4 numbers yesterday.(Image credit: Pexels)

Read More: Nestle's major controversies: From adding sugar in baby food to Maggi ban

Tata Communications board has also recommended a dividend of 16.7 per share and is set to go for approval by shareholders at its Annual General Meeting (AGM).

Unlock exclusive access to the latest news on India's general elections, only on the HT App. Download Now! Download Now!

In an interaction with Mint yesterday, MD and CEO A S Lakshminarayanan said that margin pressures are likely to continue due to its efforts to integrate its global acquisitions as well as spending to turn around some overseas operations. He also indicated that costs may stay on the higher side as Tata Com is looking to increase its reach in the foreign markets.

Read More: Greenhitech Ventures IPO allotment to be finalised: 4 steps to check status

He also revealed the area that the company is looking to effect positive changes and that is to turn around non-profitable subsidiaries that were acting as a drag on the margins. One of the positive steps already taken was that the company exited some non-profitable contracts.

“We’ve invested in our platforms organically. We've also invested inorganically through a couple of large acquisitions, and people have translated into a full year of costs for us," he revealed.

Read More: Time’s 100 most influential: Satya Nadella, Ajay Banga, Jensen Huang in list

At 12:17 p.m. today, Tata Communications share price was 1899.30, an increase of 15.55 points (0.83%). Money Control reports that this year, it has risen over 7 percent even as the benchmark Nifty has gone up by around 2 percent. However, over the last one year, it has jumped by as much as 56 percent.

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

Discover the complete story of India's general elections on our exclusive Elections Product! Access all the content absolutely free on the HT App. Download now!
Get latest news on Education along with Board Exam, Competitive Exam and Exam Result at Hindustan Times. Also get latest Job updates on Employment News
SHARE THIS ARTICLE ON
Share this article
  • ABOUT THE AUTHOR
    author-default-90x90

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Tuesday, May 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On