Tata Communications Q3 profit tumbles 88.6% on-year to Rs 44.81 crore despite revenue rise of 24.4%

Tata Communications on Thursday posted profit for the third quarter of FY24 at Rs 44.81 crore, down 88.6 per cent in comparison to Rs 393.88 crore during the corresponding quarter of last year. It posted revenue from operations at Rs 5,633.26 crore, up 24.4 per cent as against Rs 4,528.34 crore during the third quarter of FY23, backed by strong performance in Data Revenue.

Data Revenue, the company said, came in Rs 4,618 crore, up 28.5 per cent YoY. It added that the Digital Portfolio Revenue grew by 78.2 per cent YoY, contributing ~45 per cent to the Data portfolio. Further, India Enterprise revenue grew strongly, increasing 10.4 per cent YoY.