Tulip Telecom Ltd (Tulip), an enterprise data services provider, announced a 20 per cent increase in its net profit at Rs 77.1 crore for the first quarter ending June 30 compared with Rs 64.2 crore in the corresponding quarter last year. Tulip posted revenues of Rs 653.9 crore compared with Rs 525.2 crore for the corresponding quarter in the previous fiscal. The company posted a Diluted Earnings Per Share of Rs 4.75, up 20 per cent over the previous fiscal.
The growth during the quarter was primarily led by the end-to-end data services of the company which added Karur Vysya Bank, OICL, Matrix Cellular, and Reliance Life Insurance to its portfolio of customers during the quarter.
In a statement, Lt Col HS Bedi, Chairman and Managing Director, Tulip Telecom, said, “In line with our vision, we are seeing a visible shift in our profile from being an Enterprise Connectivity provider to an integrated Enterprise Data Services player. The strategy to provide high quality data solutions and thereby maximise earnings from every customer by servicing their end-to-end connectivity needs is paying off.”
“We are focusing on consolidating the management team with a view to reinforcing service delivery and customer satisfaction levels which we believe will not only enable customer stickiness in the longer run but will also enable us to cement our position.”