Tanla Platforms First Quarter Net Profit Up 32.92% To Rs104.49cr Thanks To Higher Revenue Boosts Profits
Tanla Platforms reported a 37.52% increase in total revenue for the June 21 quarter on a consolidated basis to Rs626.38cr on the resumption of post-pandemic demand. On a sequential basis, revenue was down -3.42% from revenue of Rs648.56cr for the March 21 quarter, mainly due to the impact of COVID 2.0.
The company operates in the development of IT solutions for cloud users, which is largely non-cyclical and is also among the main areas of digital growth within the IT industry. The June 21 quarter was slightly affected by COVID 2.0.
Net profit for the June 21 quarter increased 32.92% to Rs104.49cr. Much of this is due to the increase in sales revenue and since the company largely operates on the variable cost model, profits tend to be proportional to growth with scaling sales revenue. . Growth would have been higher had it not been for the tax credits in the June 20 quarter.
Net margins were 16.68% for the June-20 quarter, compared to 17.26% for the June-20 quarter, but above the 15.81% reported in NPM for the sequential March 21 quarter.
June 21 financial highlights compared year-over-year and sequentially
|Rs in crore||June-21||June 20||YEAR||Mar-21||QOQ|
|Total income (Rs cr)||626.38||455.48||37.52%||648.56||-3.42%|
|Net profit (Rs cr)||₹ 104.49||78.61||32.92%||102.54||1.90%|
|Diluted EPS (Rs)||7.68||5.16||7.54|