Tanla Platforms reports 8.3% rise in Q4 PAT, stock falls nearly 3%
Upstox
2 min read • Updated: April 26, 2024, 11:49 AM
Summary
Tanla Platforms’ adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) grew 10.5% to ₹187.7 crore during the quarter. The company clarified that adjusted EBITDA has been normalised for one-time expenditure of ₹27.3 crore incurred for Mobile World Congress 2024. Adjusted EBITDA margin for the quarter stood at 18.7%.
Tanla Platforms on Thursday reported a 20.6% year-on-year (YoY) rise in its fourth quarter operating revenue at ₹1,005.51 crore. The company reported an 8.3% YoY rise in its net profit at ₹130.23 crore. Shares of Tanla Platforms were trading nearly 3% lower on Friday.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) grew 10.5% to ₹187.7 crore during the quarter. The company clarified that adjusted EBITDA has been normalised for a one-time expenditure of ₹27.3 crore incurred for Mobile World Congress 2024. Adjusted EBITDA margin for the quarter stood at 18.7%.
For the fiscal year 2024, Tanla Platforms reported a 17.1% YoY rise in operating revenue at ₹3,927.8 crore while net profit rose 22.5% ₹548.31 crore. Adjusted EBITDA stood at ₹759.5 crore while adjusted EBITDA margin came in at 19.3%.
The board recommended a final dividend of ₹6 per share.
Uday Reddy, Founder Chairman and CEO said FY24 has been an eventful year across dimensions of innovation, customer success, and brand. “Growth was led by over the top (OTT) with WhatsApp crossing ₹500 crore annual run rate in Q4. Domestic SMS showed sequential growth in a seasonally weak quarter. We added over 400 new customers for the year with over a third of them on OTT channels,” he said.
The company stated that digital platforms revenue grew by 10.5% YoY to ₹ 90 crore, on the back of Trubloq and Wisely OTT. Enterprise communications revenues grew by 21.7% to ₹915.5 crore driven by the growth of its OTT channels and ValueFirst acquisition.
“We are operating in an industry with a total addressable market of around ₹14,000 crore. This has been growing in the mid to high teens over the past three years. Three years back, SMS contributed 80% of the market with voice and email contributing 15-16%. OTT channels were less than 5% of the market,” Reddy said.
Shares of the company lost nearly 15% since the beginning of the year. The stock has gained over 43% in the last one year.