Tata Communications reported a net profit of Rs 326 crore for the fourth quarter of fiscal year 2022–23 on April 19; this is 10.7 percent less than the net profit of Rs 365 crore reported in the same period last year.
The net income decreased by 17 percent sequentially, as it had reached Rs 394 crore in the quarter ending in December 2022.
The net profit for the entire fiscal year of FY23 increased from Rs 1,490 crore to Rs 1,801 crore.
The consolidated revenue from operations for the fourth quarter was Rs 4,568 crore, a 7.2 percent increase from Rs 4,263 crore in the same period last year.
The revenue for the third quarter was marginally higher than the previous quarter, totaling Rs 4,526 crore.
The total revenue from operations for the entire fiscal year was Rs 18,201 crore, an increase from Rs 17,056 crore in FY22.
The company’s board of directors proclaimed a final dividend of Rs 21 per Rs 10 par value share for the fiscal year that concluded on March 31, 2023.
EBITDA (earnings before interest, taxes, depreciation, and amortisation) decreased by 1.1% to Rs 1,034.2 crore in Q4FY23, compared to Rs 1,045.3 crore in the same quarter of the previous fiscal year.
Tata Communications shares closed in the red prior to the announcement of results. The stock settled at Rs 1,193.70 per share on the BSE, a decrease of 1.6% from the previous day’s close.