Tanla net profit hits all-time high of Rs. 104 cr
Hyderabad: INDIA's largest Communications Platform as a Service (CPaaS) provider Tanla Platforms Limited has registered a strong growth while maintaining market leadership. The company's net profit for the first quarter of this financial year grew by 33 per cent to an all-time high of Rs 104.48 crore, delivering second consecutive quarter of above Rs 100-crore net profit.
On a year-on-year basis, the Hyderabad-headquartered company's revenues surged up by 38 per cent to Rs 626.38 crore in the first quarter. The operating profit increased 79 per cent to an all-time high of Rs 134.53 crore. Operating profit margin for the quarter increased from 16.4 per cent to 21.5 per cent. Cash conversion (operating cash flow to operating profit) stood at 102 per cent. Tanla and all its subsidiaries continue to remain debt-free with surplus cash reserves.
The board of Tanla approved buyback of equity shares to the tune of Rs 65 crore at a price of Rs 1,260 per equity share. Uday Reddy, Chairman and CEO, Tanla Platforms said, "Our financial performance is an outcome of our innovation led strategy and focused execution. Tanla is growing at the rate of knots." He adds, "We are transforming the way large enterprises engage with their end customers. Our customers are growing, and we are growing with them.