On consolidated basis
Quarter ended March 2024 compared
with Quarter ended March 2023.
Net sales (including other operating income) of Tata Communications has
increased 24.58% to Rs 5691.7 crore. Sales of Global Voice Solutions
segment has gone down 7.24% to Rs 428.96 crore (accounting for 7.48% of total
sales). Sales of Global Data and Managed Services segment has gone
up 26.67% to Rs 4,670.87 crore (accounting for 81.42% of total
sales). Sales of Payment segment has gone down 9.18% to Rs 41.73
crore (accounting for 0.73% of total sales). Sales of Real Estate
segment has gone up 17.85% to Rs 59.81 crore (accounting for 1.04% of total
sales). Sales of Transformation Services segment has gone up 7.97%
to Rs 397.26 crore (accounting for 6.92% of total
sales). Inter-segment sales came down from Rs 45.92 crore to Rs
44.95 crore.
Profit before interest, tax and
other unallocable items (PBIT) has slumped 6.08% to Rs 390.46
crore. PBIT of Global Voice Solutions segment fell 55.13% to Rs
35.44 crore (accounting for 9.08% of total PBIT). PBIT of Global
Data and Managed Services segment fell 21.43% to Rs 232.95 crore (accounting
for 59.66% of total PBIT). PBIT of Payment reported loss of Rs 3.17
crore compared to profit of Rs 4.67 crore. PBIT of Real Estate
segment rose 28.54% to Rs 33.01 crore (accounting for 8.45% of total
PBIT). PBIT of Transformation Services segment rose 20.08% to Rs
11.90 crore (accounting for 3.05% of total PBIT).
PBIT margin of Global Voice
Solutions segment fell from 17.08% to 8.26%. PBIT margin of Global
Data and Managed Services segment fell from 8.04% to 4.99%. PBIT
margin of Payment segment fell from 10.16% to 7.60%. PBIT margin of
Real Estate segment rose from 50.60% to 55.19%. PBIT margin of
Transformation Services segment rose from 2.69% to 3.00%. Overall
PBIT margin fell from 9.01% to 6.81%.
Operating profit margin has declined
from 22.64% to 18.56%, leading to 2.13% rise in operating profit to Rs 1,056.30
crore. Employee cost decreased from 21.88% to 20.65%.
Other expenses rose from 55.48% to 60.79%.
Telecommuncation charges rose from 35.87% to 40.99%.
Other income fell 7.75% to Rs 57
crore. PBIDT rose 1.58% to Rs 1113.3 crore. Provision for
interest rose 42.42% to Rs 188.15 crore. Loan funds rose to Rs
11,263.17 crore as of 31 March 2024 from Rs 8,576.64 crore as of 31 March
2023. Inventories declined from Rs 160.00 crore as of 31 March 2023
to Rs 83.54 crore as of 31 March 2024. Sundry debtors were higher at
Rs 3,758.36 crore as of 31 March 2024 compared to Rs 2,734.99 crore as of 31
March 2023. Cash and bank balance declined from Rs 1,062.57 crore as
of 31 March 2023 to Rs 842.45 crore as of 31 March 2024. Investments
declined from Rs 1,950.55 crore as of 31 March 2023 to Rs 1,608.22 crore as of
31 March 2024.
PBDT fell 4.02% to Rs 925.15
crore. Provision for depreciation rose 7.65% to Rs 665.84
crore. Fixed assets increased to Rs 10,095.46 crore as of 31 March
2024 from Rs 9,856.98 crore as of 31 March 2023. Intangible assets
increased from Rs 1,790.66 crore to Rs 4,698.98 crore.
Profit before tax down 24.92% to Rs
259.31 crore. Share of profit/loss was 37.14% lower at Rs 5.84
crore. Provision for tax was credit of Rs 108.48 crore, compared to
debit of Rs 28.05 crore. Effective tax rate was negative 50.92%
compared to 7.91%.
Minority interest decreased 44.26%
to Rs 0.34 crore. Net profit attributable to owners of the company
decreased 1.49% to Rs 321.18 crore.
Equity capital stood at Rs 285.00
crore as of 31 March 2024 to Rs 285.00 crore as of 31 March
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 58.86% as of 31
March 2024 ,compared to 58.86% as of 31 March 2023 . Promoters
pledged stake was 3.14% as of 31 March 2024 ,compared to 4.96% as of 31 March
2023 .
Full year results analysis.
Net sales (including other operating income) of Tata Communications has
increased 17.55% to Rs 20968.82 crore. Sales of Global Voice
Solutions segment has gone down 17.29% to Rs 1,699.06 crore (accounting for
8.03% of total sales). Sales of Global
Dhttp://192.168.2.14:81/DBConversion/Segmentation_Cons.aspx#ata and Managed
Services segment has gone up 21.78% to Rs 17,240.23 crore (accounting for
81.49% of total sales). Sales of Payment segment has gone down
10.43% to Rs 166.02 crore (accounting for 0.78% of total
sales). Sales of Real Estate segment has gone up 18.02% to Rs 237.07
crore (accounting for 1.12% of total sales). Sales of Transformation
Services segment has gone up 9.36% to Rs 1,550.43 crore (accounting for 7.33%
of total sales). Inter-segment sales rose Rs 176.82 crore to Rs
188.51 crore.
Profit before interest, tax and
other unallocable items (PBIT) has slumped 14.39% to Rs 1,760.43
crore. PBIT of Global Voice Solutions segment fell 38.73% to Rs
184.64 crore (accounting for 10.49% of total PBIT). PBIT of Global
Dhttp://192.168.2.14:81/DBConversion/Segmentation_Cons.aspx#ata and Managed
Services segment fell 21.78% to Rs 1,304.15 crore (accounting for 74.08% of
total PBIT). PBIT of Payment segment rose 22.63% to Rs -34.54 crore
(accounting for -1.96% of total PBIT). PBIT of Real Estate segment
rose 44.19% to Rs 146.51 crore (accounting for 8.32% of total
PBIT). PBIT of Transformation Services segment fell 98.35% to Rs
0.51 crore (accounting for 0.03% of total PBIT).
PBIT margin of Global Voice
Solutions segment fell from 14.67% to 10.87%. PBIT margin of Global
Dhttp://192.168.2.14:81/DBConversion/Segmentation_Cons.aspx#ata and Managed
Services segment fell from 11.78% to 7.56%. PBIT margin of Payment
segment rose from negative 24.08% to negative 20.80%. PBIT margin of
Real Estate segment rose from 50.58% to 61.80%. PBIT margin of
Transformation Services segment fell from 2.18% to 0.03%. Overall
PBIT margin fell from 11.41% to 8.32%.
Operating profit margin has declined
from 24.21% to 20.17%, leading to 2.04% decline in operating profit to Rs
4,230.10 crore. Employee cost increased from 20.17% to 21.24%.
Other expenses rose from 55.63% to 58.59%.
Telecommuncation charges rose from 35.74% to 38.56%.
Other income fell 22.22% to Rs
282.47 crore. PBIDT fell 3.61% to Rs 4512.57
crore. Provision for interest rose 48.95% to Rs 644.15
crore. Loan funds rose to Rs 11,263.17 crore as of 31 March 2024
from Rs 8,576.64 crore as of 31 March 2023. Inventories declined
from Rs 160.00 crore as of 31 March 2023 to Rs 83.54 crore as of 31 March
2024. Sundry debtors were higher at Rs 3,758.36 crore as of 31 March
2024 compared to Rs 2,734.99 crore as of 31 March 2023. Cash and
bank balance declined from Rs 1,062.57 crore as of 31 March 2023 to Rs 842.45
crore as of 31 March 2024. Investments declined from Rs 1,950.55
crore as of 31 March 2023 to Rs 1,608.22 crore as of 31 March 2024.
PBDT fell 8.96% to Rs 3868.42
crore. Provision for depreciation rose 9.19% to Rs 2469.67
crore. Fixed assets increased to Rs 10,095.46 crore as of 31 March
2024 from Rs 9,856.98 crore as of 31 March 2023. Intangible assets
increased from Rs 1,790.66 crore to Rs 4,698.98 crore.
Profit before tax down 29.61% to Rs
1,398.75 crore. Share of profit/loss was 41.26% lower at Rs 19.99
crore. Provision for tax was expense of Rs 213.5 crore, compared to
Rs 296.62 crore. Effective tax rate was 18.05% compared to 14.14%.
Minority interest decreased 74.75%
to Rs 1.24 crore. Net profit attributable to owners of the company
decreased 46.08% to Rs 968.34 crore.
Equity capital stood at Rs 285.00
crore as of 31 March 2024 to Rs 285.00 crore as of 31 March
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 58.86% as of 31
March 2024 ,compared to 58.86% as of 31 March 2023 . Promoters
pledged stake was 3.14% as of 31 March 2024 ,compared to 4.96% as of 31 March
2023 .
Cash flow from operating activities
decreased to Rs 3,182.00 crore for year ended March 2024 from Rs 4,384.35 crore
for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 2,082.34 crore, compared to Rs
1,493.14 crore during the year ended March 2023.
Operational highlights:
Data revenues came in at Rs 4656 crore , recording an
increase of 26.9% YoY.
Data revenue came in at Rs 17,181 crore mark, growing by 21.9%
on a full-year basis
Digital Portfolio witnesses a broad-based growth across all
offerings, improving by 55.4% on a full- year basis
Dividend: The
board has recommended dividend of Rs 16.7 per equity share.
Management Commentary:
Commenting on the
performance A. S Laxminarayanan, MD and CEO said “We are pleased to report the
significant revenue milestone of INR 20,000 crore. We closed FY24 with strong execution
and our digital fabric is witnessing increased relevance from enterprise
customers. As we enter the next fiscal, our firm focus will remain on
integrating our acquisitions, executing our strategies, and driving sustainable
and profitable revenue growth.”
Commenting on the results,
Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications, said “FY24
was an eventful year as we witnessed our finance strategy in action, enabling
us to successfully complete three strategic acquisitions on the back of a
strong balance sheet. Our financial performance is in line with our
expectations as we continue to capture newer business opportunities and
accelerate our growth path. With the right operating levers in place, we are
confident of our financial performance indicators returning to their ambition
range in the medium term.”
| Tata Communications : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 5,691.70 | 4,568.66 | 24.58 | 20,968.82 | 17,838.26 | 17.55 | | OPM (%) | 18.56 | 22.64 | -408 bps | 20.17 | 24.21 | -403 bps | | OP | 1,056.30 | 1,034.22 | 2.13 | 4,230.10 | 4,318.23 | -2.04 | | Other Inc. | 57.00 | 61.79 | -7.75 | 282.47 | 363.15 | -22.22 | | PBIDT | 1,113.30 | 1,096.01 | 1.58 | 4,512.57 | 4,681.38 | -3.61 | | Interest | 188.15 | 132.11 | 42.42 | 644.15 | 432.46 | 48.95 | | PBDT | 925.15 | 963.90 | -4.02 | 3,868.42 | 4,248.92 | -8.96 | | Depreciation | 665.84 | 618.5 | 7.65 | 2469.67 | 2261.81 | 9.19 | | PBT | 259.31 | 345.40 | -24.92 | 1398.75 | 1987.11 | -29.61 | | Share of Profit/(Loss) from Associates | 5.84 | 9.29 | -37.14 | 19.99 | 34.03 | -41.26 | | PBT before EO | 265.15 | 354.69 | -25.24 | 1418.74 | 2021.14 | -29.80 | | EO Income | -52.11 | 0 | - | -235.66 | 76.35 | PL | | PBT after EO | 213.04 | 354.69 | -39.94 | 1183.08 | 2097.49 | -43.60 | | Taxation | -108.48 | 28.05 | LP | 213.5 | 296.62 | -28.02 | | PAT | 321.52 | 326.64 | -1.57 | 969.58 | 1800.87 | -46.16 | | Minority Interest (MI) | 0.34 | 0.61 | -44.26 | 1.24 | 4.91 | -74.75 | | Net profit | 321.18 | 326.03 | -1.49 | 968.34 | 1795.96 | -46.08 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 321.18 | 326.03 | -1.49 | 968.34 | 1795.96 | -46.08 | | EPS (Rs)* | 9.29 | 11.44 | -18.76 | 40.72 | 60.73 | -32.95 | | | * EPS is on current equity of Rs 285.00 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Tata Communications : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202403 | 202303 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Global Voice Solutions | 7.48 | 428.96 | 462.43 | -7.24 | 8.03 | 1,699.06 | 2,054.16 | -17.29 | | Global Data and Managed Services | 81.42 | 4,670.87 | 3,687.51 | 26.67 | 81.49 | 17,240.23 | 14,156.91 | 21.78 | | Others | 0.00 | 0.00 | 0.00 | - | | South Africa Operations | 0.00 | 0.00 | 0.00 | - | | Payment | 0.73 | 41.73 | 45.95 | -9.18 | 0.78 | 166.02 | 185.36 | -10.43 | | Data Centre Services | 0.00 | 0.00 | 0.00 | - | | Real Estate | 1.04 | 59.81 | 50.75 | 17.85 | 1.12 | 237.07 | 200.87 | 18.02 | | Transformation Services | 6.92 | 397.26 | 367.94 | 7.97 | 7.33 | 1,550.43 | 1,417.78 | 9.36 | | Campaign Registry | 2.41 | 138.02 | 0.00 | - | | Total Reported Sales | 100.00 | 5,736.65 | 4,614.58 | 24.32 | 100.00 | 21,157.33 | 18,015.08 | 17.44 | | Less: Inter segment revenues | | 44.95 | 45.92 | -2.11 | | 188.51 | 176.82 | 6.61 | | Net Sales | 100.00 | 5,691.70 | 4,568.66 | 24.58 | 100.00 | 20,968.82 | 17,838.26 | 17.55 | | PBIT | | Global Voice Solutions | 9.08 | 35.44 | 78.99 | -55.13 | 10.49 | 184.64 | 301.37 | -38.73 | | Global Data and Managed Services | 59.66 | 232.95 | 296.47 | -21.43 | 74.08 | 1,304.15 | 1,667.22 | -21.78 | | Others | 0.00 | 0.00 | 0.00 | - | | South Africa Operations | 0.00 | 0.00 | 0.00 | - | | Payment | -0.81 | -3.17 | 4.67 | PL | -1.96 | -34.54 | -44.64 | 22.63 | | Data Centre Services | 0.00 | 0.00 | 0.00 | - | | Real Estate | 8.45 | 33.01 | 25.68 | 28.54 | 8.32 | 146.51 | 101.61 | 44.19 | | Transformation Services | 3.05 | 11.90 | 9.91 | 20.08 | 0.03 | 0.51 | 30.86 | -98.35 | | Campaign Registry | 20.57 | 80.33 | 0.00 | - | | Total PBIT | 100.00 | 390.46 | 415.72 | -6.08 | 100.00 | 1,760.43 | 2,056.42 | -14.39 | | Less : Interest | | 188.15 | 132.11 | 42.42 | | 644.15 | 432.46 | 48.95 | | Add: Other un-allcoable | | 4.89 | 61.79 | -92.09 | | 46.81 | 439.50 | -89.35 | | PBIT Margin(%) | | Global Voice Solutions | | 8.26 | 17.08 | -881.97 | | 10.87 | 14.67 | -380.40 | | Global Data and Managed Services | | 4.99 | 8.04 | -305.25 | | 7.56 | 11.78 | -421.21 | | Others | | 0.00 | 0.00 | 0.00 | | South Africa Operations | | 0.00 | 0.00 | 0.00 | | Payment | | -7.60 | 10.16 | -1,775.97 | | -20.80 | -24.08 | 327.81 | | Data Centre Services | | 0.00 | 0.00 | 0.00 | | Real Estate | | 55.19 | 50.60 | 459.05 | | 61.80 | 50.58 | 1,121.54 | | Transformation Services | | 3.00 | 2.69 | 30.21 | | 0.03 | 2.18 | -214.37 | | Campaign Registry | | 58.20 | 0.00 | 5,820.17 | | 60.17 | 0.00 | 6,016.94 | | PBT | 100.00 | 207.20 | 345.40 | -40.01 | 100.00 | 1,163.09 | 2,063.46 | -43.63 |
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