• PAT grows 21.2% YoY I Digital Platforms & Services revenues increase by 15.5% I The Board recommends dividend of INR 21 per share

Mumbai, India – Tata Communications, a global digital ecosystem enabler, today announces its financial results for the quarter and full year ended 31st March 2023.

Highlights | Q4 FY2023

Consolidated financial highlights

• Consolidated revenue for FY23 came in at INR 17,838 Crores (USD 2,220.3 Mn) and at INR 4,569 Crores (USD 555.2 Mn) for Q4 FY23
• Witnessed healthy growth across Core Connectivity, Digital Platforms & Services, and Incubation Services of Data business:
  • Data business grew by 2.2% QoQ and 10.3% YoY
  • Digital Platforms & Services grew by 2.3% QoQ and 15.5% YoY
  • Core Connectivity revenue grew by +1.7% QoQ and +5.7% YoY
  • Incubation portfolio grew by 9.4% QoQ and 116.6% YoY
• Consolidated EBITDA stood at INR 4,318 crore (USD 537.5 Mn); with margins at 24.2%, declining by 110 Bps YoY. For the quarter, margin came in at 22.6%
• Consolidated PAT stood at INR 1,796 crore (USD 223.5 Mn) as compared to a profit of INR 1,482 crore (USD 198.9 Mn) in FY22, registering a growth of + 21.2% YoY
• Committed CAPEX for the year was INR 1,689 Crores (USD 210.2 Mn) as compared to INR 1,608 Crores (USD 215.9 Mn) in FY22
• Free Cash Flow for FY23 was at INR 2,539 Crores

The Board has recommended a dividend of INR 21 per share as a result of the Company’s strong and consistent profitability.

“I am pleased that we have met the Company ambition of double-digit data growth for the past three consecutive quarters and for the full year,” said A.S. Lakshminarayanan, MD and CEO, Tata Communications. “Our expanding digital portfolio coupled with improving relevance quotient across India and International markets is helping us reposition the Company as a ‘CommTech’ leader. We remain committed to our Reimagine strategy to deliver profitable growth by creating sustainable value for our customers.”

“Our business results are proof that the ‘Fit to Grow’ strategy is now in motion from concept to action and its success is evident in the full year double-digit data revenue growth. We are now building the Company for a new growth trajectory enabled by our strong cash flow generation,” said Kabir Ahmed Shakir, Chief Financial Officer, Tata Communications.

An investor fact sheet providing detailed analysis of the results for the quarter and full year ended 31st March 2023 has been uploaded on the Tata Communications website and can be accessed here.