Tata Communications Ltd.’s consolidated net profit declined in the first quarter for this fiscal, missing analysts’ estimates.
The company recorded a profit of Rs 189.98 crore for the quarter ended March, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had a consensus estimate of Rs 351.1 crore.
The decline comes in as the company in the previous quarter has posted a gain of Rs 311.2 crore from the sale of its subsidiary, Tata Communications Payments Solutions.
Tata Communications Q1 Highlights (Consolidated, QoQ)
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Revenue down 0.5% to Rs 5,959.85 crore versus Rs 5,990.4 crore (Bloomberg estimate: Rs 6,043.7 crore).
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Ebitda rises 1% to Rs 1,136.81 crore versus Rs 1,122.1 crore (Estimate: Rs 1306.98 crore).
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Margin expands to 19.1% versus 18.7% (Estimate: 21%).
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Net profit falls 82% to Rs 189.98 crore versus Rs 1,040.5 crore (Estimate: Rs 351.1 crore).
This is a developing story.
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