BENGALURU, July 18 (Reuters): India's Tata Communications reported its tenth straight rise in quarterly revenue on Thursday, helped by growth in its digital portfolio segment.
The Tata Group-owned company's revenue rose 18 per cent to 56.33 billion rupees ($673.4 million) for the three months ended June 30.
Tata Communications provides services such as data connections and cybersecurity to enterprises.
Revenue from the data services business, which contributes more than 80 per cent to the total, climbed 20 per cent, on the back of a 52 per cent growth in its digital portfolio.
The company has been focusing on growing its revenue over margins, partly through acquisitions over the past few quarters, as it seeks to grab a bigger share of the highly competitive market for cloud, networking services, media and entertainment.
The company recently reiterated its plans to hit data business revenue of 280 billion rupees in the financial year 2027 from 178.98 billion rupees in FY24.
A 20 per cent rise in expenses pushed the company's net profit down 13 per cent to 3.33 billion rupees.
Tata Communications posts higher Q1 revenue
FE Team | Published: July 25, 2024 19:46:24
Tata Communications posts higher Q1 revenue
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