Tanla net profit soars 33%, reaches an all-time high
HYDERABAD, India, July 22, 2021 /PRNewswire/ -- Tanla Platforms Limited, India's largest CPaaS provider, today announced its financial results for the quarter one of FY'21-22.
Key Metrics: First Quarter
The Board of Tanla approved buyback of equity shares, for an aggregate amount not exceeding ₹65 crore at a price not exceeding ₹1,260 per equity share, payable in cash, from the open market through stock exchange mechanism in accordance with the applicable regulations.
Uday Reddy, Chairman & CEO, Tanla Platforms Limited said, "We had a stellar start into the year with consistent acceleration in our revenue growth, while improving profitability and cash flows. The operating profit and net profit are at an all-time high, driven by increasing contribution from our platform business. Our financial performance is an outcome of our innovation led strategy and focused execution.
Tanla is growing at rate of knots. There is a Rule of 40 out there for SaaS companies, but Tanla has grown organically at Rule of 60 in Q1. This is a tangible demonstration of the strong unit economics within our business, and it showcases the inherent strength of the business model.
We are transforming the way large enterprises engage with their end customers. Our customers are growing, and we are growing with them. Our top 20 customers have grown 31% and we have 13 customers with annualized revenues greater than ₹50 crore in the quarter.
As we look forward, we will stay focused on our 'one platform' strategy. Wisely, our enterprise grade platform built for the entire CPaaS ecosystem, is seeing strong traction. Our alliance with Microsoft as a technology, cloud and GTM partner will pave way for our global expansion."
India's largest CPaaS provider registers strong growth while maintaining market leadership.
On a year-on-year basis, revenues grew by 38% to ₹626.38 crore for the first quarter. We have consistently accelerated our growth trajectory every quarter year over year.
The operating profit for the quarter was at an all-time high of ₹134.53 crore and grew by 79%. Operating profit margin for the quarter increased from 16.4% to 21.5%. Cash conversion (Operating cash flow to operating profit) was at 102%.
Net profit for the quarter was at an all-time high of ₹104.48 crore, delivering second consecutive quarter of ₹100 crore+ net profit.
Tanla and all its subsidiaries continue to remain debt free with surplus cash reserves.
Products & Platforms
Response to Covid
Vaccination drive is currently under way for employees and their families. To date, 58% of employees along with their family members have been vaccinated.
Incorporation of subsidiary
Tanla Foundation has been incorporated to implement the CSR initiatives of the company.
Invitation to earning call:
Tanla will host a conference call and live webcast to discuss the financial results.
Conference call details:
The conference call will begin at 5.30 PM IST on July 22, 2021. Interested parties may listen to the call by dialing +91 22 6280 1141 / +91 22 7115 8042, or if outside India, by dialing toll free number UK 08081011573, USA 18667462133, Hong Kong 800964448, and Singapore 8001012045. The live audio webcast link will be available on the Tanla website
Tanla Platforms Limited (NSE: TANLA); (BSE:532790) transforms the way the world collaborates and communicates through innovative CPaaS solutions. Founded in 1999, it was the first company to develop and deploy A2P SMSC in India. Today, as one of the world's largest CPaaS players, Tanla processes more than 800 billion interactions annually and about 62% of India's A2P SMS traffic is processed through its distributed ledger platform-Trubloq, making it the world's largest Blockchain use case. Tanla touches over a billion lives carrying mission critical messages meeting the needs of the world's largest customers. Tanla Platforms Limited is headquartered in Hyderabad, India and is expanding its presence globally.
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Consolidated statement of Profit and Loss (Un-audited):
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Company Codes: India:TANLA, Bombay:532790, Bombay:TANLA.BO, India:EQTANLA, India:TANLA.NS, India:TANLA-BL.NS
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