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Shares of Tanla Platforms Ltd slipped over 6% in early trade today after the cloud communications firm reported its December 2023 quarter earnings. The multibagger IT stock slipped 6.67% at Rs 1058.70 against the previous close of Rs 1134.40 on BSE. Market cap of Tanla Platforms fell to Rs 14,420 crore. The stock opened lower at Rs 1119.95.
The company on Thursday reported a 19% YoY surge in revenue at ₹1,009 crore and 11% sequentially. Its consolidated net profit reached ₹143 crore, an increase of 29% YoY.
Tanla Platforms shares opened lower at Rs 1075.05 on BSE. Later, they hit an intraday low of Rs 1045, falling 4.92% in the afternoon session.
Tanla Platforms shares opened 2.63% higher at Rs 704. Later, they rose 4.12% to hit an intraday high of Rs 714.2
Shares of Tanla Platforms gained 15 per cent amid a rising market today. Tanla Platforms stock gained 15.08 per cent to Rs 848 against the previous close of Rs 736.85 on BSE. Tanla Platforms stock opened higher at Rs 749.95. The stock is trading higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than 200-day moving averages.