ICICI Direct: Tata Communications’ Upward Shift Of Data Segment Margin Continues
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ICICI Direct Report
Tata Communications Ltd. reported a better-than-expected performance on the operating front led by superior margins in the data segment.
The topline was at Rs 4,401 crore, up 3% YoY, flattish QoQ, with data revenues (forming approximately 83% of revenues) growing at 7.2% YoY, a tad lower than expectations.
Ebitda came in at Rs 1,158 crore, up 26.3% YoY, with margins at 26.3% (up 680 basis points YoY) driven by strong data margins of 30.4% (up 830 basis points YoY), aided by structural cost savings and continued Covid-19 led benefits such as savings in travel costs, lower selling, general and administrative costs etc.
The company reported a profit after tax of Rs 384.5 crore, up approximately 6.1 times YoY.
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