Why Tata Communications share fell 8% despite five-fold rise in Q3 profit
Tata Communications stock touched an intraday low of Rs 1,040, falling 7.96% against previous close of Rs 1,129.95 on BSE
BusinessToday.In | January 20, 2021 | Updated 11:12 IST
Tata Communications share opened with a loss of 4.69% today at Rs 1076.95 on BSE.
Tata Communications share fell nearly 8% in early trade today despite the Tata Group firm reporting a five- fold rise in Q3 profit. The slide in the stock can be attributed to reports that government will sell its entire 26.12% stake in Tata Communications through an offer for sale and strategic sale route in the current fiscal.
Tata Communications Q3 results: Profit jumps over 5-fold to Rs 309 crore on lower costs
Tata Communications Q3 results: Consolidated revenue from operations was marginally down by 0.1 per cent YoY to Rs 4,222.83 crore in Q3 FY21, as drop in voice business offset growth in data business
BusinessToday.In | January 19, 2021 | Updated 20:56 IST
Tata Communications profit soars 426% to Rs 309.41 crore in December quarter
Tata Communications, a part of Tata Group, on Tuesday reported 425.76 per cent year-on-year growth in consolidated profit after tax (PAT) at Rs 309.41 crore for the third quarter ended December 31, 2020, compared to Rs 58.85 crore in the same period last year. The surge in profit was attributed to cost efficiencies and improved business processes as well as higher deferred tax credits during the quarter under review.