Tata Communications fourth quarter results: Profit declined 1.5% year-on-year to Rs 321 crore. 25% increase in revenue

Tata Communications on Thursday reported a 1.5 per cent (YoY) decline in consolidated net profit at Rs 321 crore for the quarter ended March 2024. Meanwhile, operating revenue grew 25% (YoY) to Rs 5,692 crore.

The company’s EBITDA rose 2% to Rs 1,056 crore, while its EBIT margin declined from 23% to 19%, according to its latest financial report filed with the exchanges.

The board also recommended a final dividend of ₹16.70 per share for the financial year ended March 31, 2024, pending shareholder approval.

AS Lakshminarayanan has been reappointed as Managing Director and CEO of the company for a second term from November 26, 2024 to April 13, 2026.

Also Read: Rekha Jhunjhunwala cuts stake in Tata group shares and 4 other stocks.

Shares of Tata Communications have risen 51% over the past year and 11% over the past three months. However, on a monthly basis, the stock price is showing a 4% decline. Ace investor Rekha Jhunjhunwala also reduced her stake in Tata group companies, including Tata Communications, in the March quarter. She reduced her stake in the company by 0.3% last quarter, bringing her total stake to 1.6%. Shares of Tata Communications closed 1.31% lower at Rs 1,884 on Tuesday.

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