Tata Communications Shares Fall 4 Per Cent Post Q3 Earnings

Tata Communications shares declined by over 4 per cent after the firm reported a fall in net profit for the third quarter. The stock fell 4.43 per cent to Rs 1,321.60 apiece on the BSE. On the NSE, it declined 4.46 per cent to Rs 1,321.95 apiece. Tata Communications on Monday reported a consolidated net profit of about Rs 394 crore for the just-ended December 2022 quarter, a tad lower than the year-ago period.

The Q3 FY23 net profit was 0.3 per cent lower than last year's figure of about Rs 395 crore (profit for the period attributable to equity holders of the parent), the company said in a regulatory filling. Seen sequentially, the net profit was down 26 per cent from the September quarter. Tata Communications' consolidated revenue for the quarter ended December 2022 came in at about Rs 4,528 crore, 8.2 per cent higher on-year.

(PTI)