Tata Communications Gains Over 3% On Jump In Q2 Net Profit

Tata Communications shares gained more than 3 per cent in a weak market after the company reported a jump in net profit in the quarter ended September 2021. On Wednesday, Tata Communications reported a 10.6 per cent year-on-year growth in consolidated net profit at Rs 425 crore for the quarter ended September 2021 on account of lower operating costs and taxes.

The earnings before interest, tax, depreciation and amortisation (EBITDA) rose 12.9 per cent to Rs 1,113 crore in the September quarter, whereas it declined 3.9 per cent from the year-ago quarter.

The company's net debt stood at Rs 7,761 crore in the September quarter, down Rs 240 crore sequentially and Rs 870 crore from the corresponding period last year.

At 12:00 pm, Tata Communications shares were trading at Rs 1,492, higher by 3.1 per cent, on the BSE as against the 0.6 per cent decline in the benchmark indices.