Tanla Platforms Q1 net profit rises 4% to ₹141 crore; stock close 3% lower

Tanla Platforms informed the exchanges about its financial results for the quarter ended June 2024 on July 18. Tanla Platforms’ net profit for Q1FY25 increased by over 4% to ₹141.22 crore compared to ₹135.4 crore in Q1FY24. The company’s net profit for Q1FY25 grew over 8% from ₹130.22 crore in Q4FY24.

The company’s consolidated revenue from operations for the June quarter of FY25 increased by 10% on a year-on-year basis to ₹1,002 crore from ₹911.11 crore in the corresponding quarter of FY24. The software products company’s revenue from operations for the June quarter of FY25 fell marginally by 0.32% on a quarter-on-quarter basis from ₹1,005 crore in the March quarter of FY24.

Tanla Platforms’ earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew over 3% to ₹188.6 crore in Q1FY25 from ₹182.2 crore in Q1FY24. Sequentially, the company’s EBITDA grew marginally by 0.47% from ₹187.7 crore in Q4FY24.

Uday Reddy, Founder Chairman and CEO said that the company was progressing well with its strategic shifts and is moving in the right direction to elevate its growth trajectory.

“We are progressing well with our strategic shifts. Our 3X growth over the year, coupled with the go-live of the MaaP platform, showcases our leadership in OTT space. Our partnership with a global tech major on Wisely ATP to combat scams is a huge step to tackle this global menace. We are moving in the right direction to elevate our growth trajectory,” Reddy commented on the results.

Tanla Platforms, founded in 1999, is a provider of Communications Platform as a Service (CPaaS) solutions.

Tanla Platforms shares closed 3.13% lower at ₹962 apiece on the NSE.