Q3 FY24 Results Season HIGHLIGHTS, Q3 FY24 Earnings: More than 40 companies, including Tata Communications, Home First, Poonawalla Fincorp, Metro Brands, Polycab India, and Sterling and Wilson Renewable Energy, reported their Q3 FY24 earnings on January 18.
“We are pleased to report another quarter of robust growth as data revenue crossed the Rs 4,000 crore mark with digital services contributing 45 per cent, in line with our strategy. Even as we increase our impetus on people and platforms to deliver long-term value, our acquisitions of Oasis, The Switch and Kaleyra have created new avenues for growth and innovation. We remain confident about our medium-term ambitions,” says AS Lakshminarayanan, MD and CEO, Tata Communications.
The company’s India enterprise revenue grows 10.4 per cent on a year-on-year basis, according to a statement.
The company reports Rs 1,134 crore in earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter, as against Rs 1,016 crore for the previous three months.
According to Zee Business research, the company’s EBITDA for the third quarter of FY24 was estimated at Rs 988 crore.
IndiaMART InterMESH shares finish the day weaker by Rs 128.1, or 4.9 per cent, at Rs 2,472.1 apiece on BSE.
Polycab India registers revenue of Rs 4,340.5 crore for the quarter ended December, up 16.8 per cent on a year-on-year basis led by strong volume growth in its wires and cables unit.
Its net profit rises 15.4 per cent to Rs 416.5 crore, according to a regulatory filing.
Here are some other key points:
Polycab shares ended 0.2 per cent lower at Rs 4,431 apiece on BSE ahead of the earnings announcement.
Home First Finance Company reports a net profit of Rs 78.8 crore for the October-December period, as against a net profit of Rs 58.7 crore for the year-ago quarter.
Its revenue from operations grows 44.3 per cent to Rs 296.3 crore for the fiscal third quarter of FY24.
Earlier in the day, the NBFC stock rose 3.1 per cent to end at Rs 995.5 apiece on BSE.
The stock finishes 8.6 per cent stronger at Rs 30.8 apiece on BSE after the earnings announcement.
Image: BSEIndia.com
The private sector lender says its nine-month net profit stands at a record Rs 782.5 crore.
The Tata group company’s margin, a key measure of profitability, comes in at 20.1 per cent for the December quarter as against 20.8 per cent for the previous three months.
However, the company’s quarterly margin is better than analysts’ estimates.
According to Zee Business research, Tata Communications (TATACOMM) was estimated to register a margin of 17.8 per cent for the fiscal third quarter.
The company’s revenue stands at Rs 305.3 crore for the fiscal third quarter, an increase of 21.4 per cent on a year-on-year basis, according to a regulatory filing.
The Tata group company registers a consolidated net profit of Rs 45 crore for the quarter ended December, taking into account an exceptional item of Rs 185 crore. Its profit before exceptional items, tax and share in associates’ profit comes in at Rs 339.3 crore.
According to Zee Business research, Tata Communications (TATACOMM) was estimated to post a net profit of Rs 120 crore for the three-month period.
The NBFC stock is up 0.3 per cent at Rs 485.2 apiece on BSE, iin a bounceback from the red after falling to as low as Rs 465 in intraday trade.
The company is scheduled to report its quarterly numbers today.
The lender reports a net profit of Rs 305.4 crore for the fiscal third quarter as against Rs 102.8 crore for the corresponding period a year ago.
Here’s a breakup of Tata Communications’ revenue from its data and voice units:
The company said it remains confident of long-term opportunities and would continue to invest in its product portfolio.
Zee Business analysts had pegged the company’s data revenue at Rs 4,011 crore and voice revenue at Rs 418 crore.
Here’s a summary of Tata Communications’ Q2 FY24 earnings (consolidated):
According to Zee Business research, the Tata group company’s Q2 profit was estimated at Rs 296 crore, revenue at Rs 4,843 crore, EBITDA at Rs 1,017 crore and margin at 21 per cent.
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Q3 Results HIGHLIGHTS: Tata Communications, Polycab, Home First, several other firms report earnings – Zee Business
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