Tanla Q1 net up at ₹104.50 cr

Our Bureau Hyderabad | Updated on July 22, 2021

FILE PHOTO: Uday Kumar Reddy, Chairman and CEO, Tanla Solutions Ltd   -  BL

Board okays buyback plan

Tanla Platforms, formerly known as Tanla Solutions, has reported a net profit of ₹104.50 crore in the first quarter ended June 30, 2021, as against ₹78.60 crore in the same quarter previous year. This is the second consecutive quarter for the company to deliver a net profit of over ₹100 crore.

The firm registered a net income of ₹630.68 crore in the quarter as against ₹468.77 crore in the comparable quarter previous year.

Buyback plan

The board of Tanla has approved a buyback of shares for an aggregate amount not exceeding ₹65 crore at a price (not exceeding) ₹1,260 a share from the open market through stock exchange mechanism.

“The operating profit and net profit are at an all-time high, driven by increasing contribution from our platform business,” Uday Reddy, Chairman and Chief Executive Officer of Tanla Platforms Limited, has said in a statement.

“Our top 20 customers have grown by 31 per cent and we have 13 customers with annualised revenues greater than Rs 50 crore in the quarter.

“As we look forward, we will stay focused on our ‘one platform’ strategy. Our enterprise grade platform built for the entire CPaaS ecosystem, is seeing strong traction,” he said.

Published on July 22, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.