Tata Communications consolidated net profit declines 1.49%

Tata Communications, the global commtech (communications technology) player, announced its financial results for the quarter and financial year ended 31st March 2024.

Highlights | Q4 FY2024 & FY2024

• Consolidated revenues for the year jump by 17.5%, coming in at INR 20,969 crore
• Data revenue crosses the INR 17,000 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

Commenting on the results, AS Lakshminarayanan, MD and CEO, Tata Communications, 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.”

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.”

Consolidated financial highlights
Q4 FY2024

Full Year FY2024

CT Bureau