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The growth was primarily driven by a robust performance in its data services business, where revenue jumped 9.4% to Rs 5,130 crore. Despite the topline growth, EBITDA remained flat at Rs 1,137 crore, the same as the previous year. The EBITDA margin, however, contracted by 125 basis points to 19.1% from 20.3%. Profit after tax (PAT) came in sharply lower at Rs 232 crore, a 34.9% drop from Rs 357 crore a year ago. This also dragged the PAT margin down to 3.9%, from 6.4% in the same quarter last year, a decline of 248 basis points. Meanwhile, the company's board approved a proposal to raise up to Rs 1,000 crore through the issuance of Non-Convertible Debentures (NCDs) via private placement. An internal committee has been authorised to finalise the terms and execute the issuance and allotment process. In a parallel move aimed at streamlining its corporate structure, the board also cleared the acquisition of 100% equity in its step-down wholly-owned subsidiary, Solutions Infini Technologies (India) (SI India). The shares will be purchased from Kaleyra S.P.A. for a total consideration of Rs 123.6 crore. The acquisition is part of a broader plan to simplify the group's internal structure by bringing SI India directly under Tata Communications' ownership. The transaction will not alter the ultimate ownership or economic interest of the company in SI India, but will ensure operational and structural clarity across its subsidiaries. A part of the Tata Group, Tata Communications is a global digital ecosystem enabler powering today's fast-growing digital economy in more than 190 countries and territories. It enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. 300 of the Fortune 500 companies are its customers and the company connects businesses to 80% of the world's cloud giants. Powered by Capital Market - Live News |