Marginal dip expected in net profit of Tata Communications Q1 FY24 results
Tata Communications is set to announce its Q1 FY24 financial results, with analysts expecting a 5.2% QoQ growth in data revenue at Rs 3,862 crore.
However, voice income is predicted to decline by 2% to Rs 453 crore. In the previous quarter, Tata Communications reported a consolidated net profit of Rs 326.03 crore, indicating an 11% decline compared to the previous year’s figure of Rs 365.06 crore.
So far in 2023, Tata Communications’ shares have gained over 21% while the Nifty index rose nearly 9%. Analysts forecast the Q1 FY24 profit after tax to be Rs 310 crore, down 4.9% from the previous quarter.
The company’s margin is expected to decline by 30 basis points (bps) to 22.3% on a QoQ basis. As the results are revealed, stakeholders will closely scrutinize Tata Communications’ performance in the telecommunications sector.