Wednesday, October 28, 2020

Business

Tata Comm's Q2 consolidated net profit surges to Rs 384 cr

IANS | October 16, 2020 11:39 PM

MUMBAI: Tata Communications on Friday reported a seven-fold jump in its consolidated net profit for the quarter ended September, on a year-on-year (YoY) basis, at Rs 384.81 crore.

During the corresponding period of the last financial year, the company had reported a consolidated net profit of Rs 54.31 crore.

The income from operations of the company, rose to Rs 4, 401.08 crore during the quarter under review, from Rs 4, 272.76 crore earned during a year ago period.

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."

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