Tata Communications Ltd.'s fourth quarter net profit jumped significantly, meeting analysts' estimates.
The company's net profit rose to Rs 321 crore from Rs 45 crore on a sequential basis, according to an exchange filing issued on Wednesday.
Analysts tracked by Bloomberg had estimated it at Rs 310 crore.
The rise in net profit was due to lower exceptional costs of Rs 52 crore clocked during the period, contrasting with the third quarter's exceptional costs of Rs 185.5 crore.
The company's total expenses during Q4 rose to Rs 5,489 crore sequentially from Rs 5,305 crore in the previous quarter.
Tata Communications Ltd.'s fourth quarter net profit jumped significantly, meeting analysts' estimates. The company's net profit rose to Rs 321 crore from Rs 45 crore on a sequential basis, according to an exchange filing issued on Wednesday. Analysts tracked by Bloomberg had estimated it at Rs 310 crore.
The rise in net profit was due to lower exceptional costs of Rs 52 crore clocked during the period, contrasting with the third quarter's exceptional costs of Rs 185.5 crore. The bottomline was also accelerated by lower tax expense.
The company's total expenses during Q4 rose to Rs 5,489 crore sequentially from Rs 5,305 crore in the previous quarter.
Tata Communications Q4 FY24 Highlights (QoQ)
