Tata Communications: Seasonality, Deal Closure Delays Impact Q3 Performance, Says ICICI Direct
Signage for Tata Communications Ltd. is displayed atop of the company’s headquarters in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)  

Tata Communications: Seasonality, Deal Closure Delays Impact Q3 Performance, Says ICICI Direct

Bookmark

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Tata Communications Ltd. Q3 FY21 revenues were weak sequentially largely due to seasonality and Covid-19 related weakness in deal conversion impacting data revenues growth.

Topline came in at Rs 4223 crore, flattish YoY and down 4% QoQ with data revenues (forming approximately 84% of the revenues) up 3.8% YoY (down 2.6% QoQ).

Consolidated Ebitda came in at Rs 1046 crore, up 37.5% YoY with margin at 24.8% (up 678 basis points YoY) but down 153 bps QoQ as Q2 FY21 one-off gain of Rs 43 crore and there was also an impact of Rs 31 crore, due to timing difference of revenue and cost recognition in voice segment.

Click on the attachment to read the full report:

ICICI Direct Tata Communications Q3FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.