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Tata Communications Jumps Most In 11 Weeks After Q1 Results


Shares of Tata Communications Ltd. rose the most in 11 weeks after its profit jumped and margin expanded in the first quarter.

Tata Communications Q1 FY23 Highlights (Consolidated, QoQ)

  • Revenue up 1% at Rs 4,310.5 crore

  • Ebitda up 3% at Rs 1,077.03 crore

  • Ebitda margin at 25% against 24.5%

  • Net profit up 49% at Rs 543.76 crore

According to analysts, the voice segment aided Ebitda growth in the first quarter, while higher other income led to an uptick in net profit. Also, the company’s cost control measures have yielded margin benefits.

The company will hold an earnings webinar by 2:30 pm.

Shares of Tata Communications jumped as much as 7% as of 10:20 am on Thursday. The trading volume was more than 17 times the 30-day average.

Of the nine analysts tracking the company, seven suggest a ‘buy’ and one each recommends a ‘hold’ and a ‘sell’, according to Bloomberg data. The 12-month consensus price target implies an upside of 18.6%.





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