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.
Besides, the company concluded the sale of a land parcel along with building for a total consideration of Rs 67.41 crore.
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.