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Tanla Solutions Limited, a cloud communication services provider, has posted a net profit of ₹78.6 crore in the first quarter ended June 30, 2020, against a loss of ₹75.7 crore in the same quarter previous year.
The firm, which handles about 20,000 crore business communications annually, registered revenues of ₹455 crore in the first quarter, against ₹395 crore in the comparable quarter previous year.
The earnings per share (EPS) stands at ₹5.17.
“Tanla’s quarterly performance bucks the trend amidst the raging pandemic disrupting global economies,” Uday Reddy, Chairman and Managing Director of Tanla, has said.
He said the first quarter witnessed onboarding of 80 new customers with potential annual revenue of ₹80 crore.
Buyback completed
Meanwhile, the company completed the buyback of 1.67 crore shares, representing 10.97 per cent of the total share capital, on July 22.
At ₹81 a share, the firm spent ₹165 crore for the buyback.
Post buyback, the number of shareholders fell by 3,614 to 47,097 on July 31, 2020, from 50,711 on June 12, 2020.
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