January 24, 2023

Tata Communications continues strong growth momentum in Q3 FY23

  • Q3 FY23 Data Revenue grew by 11.1 percent YoY | Q3 FY23 Consolidated EBITDA came in at INR 1,077 Crores; EBITDA Margin at 23.8 percent
  • YTD data revenue grew by 10 percent YoY | YTD Consolidated EBITDA Margin came in at 24.7 percent

Mumbai, India, January 23 2023: Tata Communications today announces its financial results for the quarter ended December 31, 2022.

Highlights | Q3 FY2023

Consolidated financial highlights

  • Consolidated revenue stood at Rs4,528 crore ($550.8 Mn); increasing +8.2 percent YoY. Sequentially, growth in revenue followed upsides in the Data business
  • Consolidated EBITDA came in at Rs1,077 crore ($130.8 Mn); almost flat on a YoY basis, where margins stood at 23.8 percent
  • Consolidated PAT stood at Rs394 crore ($47.3 Mn) from Rs395 crore ($ 52.8 Mn) in Q3 FY22
  • Committed CAPEX for this quarter stood at Rs391 crore ($47.5 Mn) relative to $400 crore ($53.4 Mn) in Q3 FY22
Consolidated Nos INR Crore QoQ Growth QYoY Growth YTD YoY Growth
Gross Revenue 4,528 2.2% 8.2% 6.5%
EBITDA 1,077 (4.6)% (0.5)% 3.2%
EBITDA Margin 23.8% (170) Bps (210) Bps (80) Bps
PAT 394 (26)% (0.3)% 31.6%

Data services portfolio

  • Data business revenues came in at Rs3,593 crore ($437.2 Mn), recording an increase of +11.1 percent YoY. Strong momentum in the Digital Platforms and Services segment continued
  • EBITDA stood at Rs948 crore (USD 115 Mn), backed by consistent delivery in Core Connectivity and Digital Platforms and Services
  • The Core Connectivity portfolio reported growth of +6 percent YoY in revenue; Digital Platforms and Services delivered robust growth of +17.2 percent YoY

Speaking on the quarter performance, A.S Lakshminarayanan, MD and CEO, Tata Communications, said, “We are pleased to deliver another strong quarter with broad based growth in our Data business across India and international markets. Our expanding portfolio of digital fabric capabilities is enabling us to drive deeper customer engagements improving our funnel and order book.”

Commenting on the results, Kabir Ahmed Shakir, CFO, Tata Communications, said, “This was another quarter of a growth momentum in our data portfolio, reflective of our investments in our people and innovative solutions, in line with our customer’s evolving digital needs. Our focus on financial prudence has allowed us to drive inorganic expansion of our global footprint.”

An investor fact sheet providing detailed analysis of the results for the quarter ended December 31, 2022,  has been uploaded on the Tata Communications website and can be accessed here.

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