Tanla Platforms is a mid cap IT company that has registered market cap of 9,049.18 crore in Friday’s concluding session. The company is one of the largest cloud communication providers in the world. Despite weak Q4 earnings, the company has declared a 400% dividend to its eligible shareholders.
“The Board of Directors of the Company at its meeting held on Wednesday, April 26, 2023, has considered and recommended a Final Dividend of Rs. 4/- (400%) per equity share, of face value of Re 1/- for the financial year ending March 31, 2023, subject to the approval of the shareholders in the ensuing Annual General Meeting of the company,” Tanla Platforms said in a stock exchange filing. he said.
The company’s revenue from operations during Q4FY23 stood at Rs 833.5 crore, a decline of 2.29% over the previous year. 853.10 crore in Q4FY22. The gross profit of the company stood at 228.90 crore during the quarter ended March 2023, down 5.95% from Rs. 243.40 Cr was recorded in the quarter ending March 2022. Tanla Platforms said that its EBITDA has reached 166.10 Cr during the quarter under review, down 9.77% YoY 184.10 crore during the year-ago quarter. Net profit of Tanla Platforms reached 120.30 Cr, down 14.43% YoY during Q4FY23 140.60 crore during Q4FY22. Company’s EPS reached against 8.88 10.36 stood in the corresponding quarter of FY22.
Udaya Reddy, Founder Chairman and CEO, Tanla Platforms Ltd. said, “Our innovation engine is firing up with over 20% growth in platform business gross profit for 11 consecutive quarters. Our enterprise business is back to 20% gross margin and we are well positioned to grow in the year ahead.”
Shares of Tanla Platforms closed on NSE on Friday 678.20 each level, down 0.41% from the previous close 681.00. Shares hit 52-week high 1,510.00 (28-Apr-2022) and at a 52-week low 493.00 on (28-Mar-2023).
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