Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd
"Tata Communication share price opened in the upper circuit up by 5% due to strong Q2FY21 result. On a Consolidated basis for Q2FY21, Tata Communications reported 3% YoY growth in revenue to Rs. 4401.1 cr and QoQ basis revenue was flat. Net profit rose by 608% YoY to Rs.384.8 cr as EBIDTA margins improved significantly due to reduction in other expenses and network and transmission expenses and also due to increase in other income. Other income rose due to gain of Rs. 67.4 cr resulting from sale of land parcel. From a long term point of view, increasing usage of data and work from home culture is positive for the business of the Company. Reporting such strong performance will lead to re-rating for the Company. Overall, Company reported better numbers than street expectations."
Shares of TATA COMMUNICATIONS LTD. was last trading in BSE at Rs.877.6 as compared to the previous close of Rs. 837.35. The total number of shares traded during the day was 33945 in over 1455 trades.
The stock hit an intraday high of Rs. 879.2 and intraday low of 844.15. The net turnover during the day was Rs. 29732221.