Telecom Services company Tata Communications announced Q2FY24 results: Consolidated revenue stood at Rs 4,872 crore (USD 589.5 million); increasing +10% YoY. Consolidated EBITDA came in at Rs 1,015 crore (USD 122.8 million); margins at 20.8%; Underlying EBITDA Margins at 21.7%. Consolidated PAT at Rs 221 crore (USD 26.6 million). Cash CAPEX for this quarter stood at USD 71 million Data business revenues came in at Rs 3,995 crore (USD 483.3 million), recording an increase of + 14.4% YoY; Underlying Data Revenue growth came in at + 10% YoY. Data EBITDA stood at Rs 913 crore (USD 110.4 million), down 9.3% YoY because of organic and inorganic investments. The Core Connectivity business reported + 6.9% YoY growth in revenue. Digital Portfolio delivered robust growth of + 30.2% YoY driven by growth across the Cloud and Next-Gen Connectivity segments and integration of The Switch. Commenting on the results, A.S. Lakshminarayanan, MD and CEO, Tata Communications, said, “We are pleased to announce a robust 14% YoY revenue growth this quarter. With the fast-tracked integration of The Switch, we are witnessing synergies being realised. Besides this, we are happy to announce the accelerated closure of the Kaleyra Inc. transaction which will enable us to create a new digital platform category - Customer Interaction Suite - in line with our ambitions. Overall, we remain confident of the long-term opportunities and will continue to invest in the product portfolio to strengthen our value proposition to enterprises.” Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications said, “Our planned investments in the organic and inorganic opportunities are in line with our ‘Fit to Grow’ Strategy. Our focus now is on relentless execution of these investments to accelerate the value creation process." Result PDF