Tata Communications sells payments unit to Indian arm of Australian firm
The deal, which was first announced in November 2024, is valued at Rs 330 crore, with an additional Rs 75 crore, based on interchange rate adjustments.
Tata Communications on Friday reported an around seven-fold rise in consolidated net profit of Rs 384.81 crore for the quarter ended September 2020 on a year-on-year (YoY) basis. The company had reported a profit of Rs 54.31 crore during the same period a year-ago.
As per a BSE filing, the consolidated revenue grew 4.5 per cent to Rs 4,477.18 crore during the reported quarter from Rs 4,282.3 crore in the year-ago period.
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Besides, the company concluded the sale of a land parcel along with building for a total consideration of Rs 67.41 crore.
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A.S. Lakshminarayanan, MD and CEO, Tata Communications, said, “We have had a strong performance in Q2, as we continue to deepen our customer engagements and support enterprises to seamlessly embark and advance on their digital transformation journeys. Leveraging the shift to cloud-first, internet-first strategies, we are innovating across our portfolio to offer solutions that are tailored to this new digital-first world.”
“We see great opportunities ahead, as organisations look to harness the power of technology to transform their business models and drive competitive differentiation and sustainable development,” he added.
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