HYDERABAD, India, Aug. 12, 2020 /– The Board of Tanla Solutions Limited (NSE: TANLA) (BSE: 532790) at its Board Meeting held on August 12, 2020 announced the un-audited financial results for the quarter ended on June 30, 2020 for FY21.
- Revenue at ₹455.5 crore increased by 15% sequentially from first quarter of FY20.
- Gross Margin at ₹105.3 crore increased by 37% sequentially from first quarter of FY20.
- Net Profit at ₹78.6 crore increased by 204% sequentially from first quarter of FY20.
- EPS at ₹5.17, increased by 196% sequentially from first quarter of FY20.
- Tanla and all its subsidiaries remain debt free.
- Provision of ₹3.7 crore for loss of investment in liquid funds and a provision of ₹2.92 crore created for doubtful debts in FY20, have been reversed in the current quarter, as the same have been realized.
- Tax refund of ₹1.44 crore has been received during Q1FY2021.
- Interest income of ₹3.42 crore comprises of ₹1.4 crore as interest on TDS and ₹2.02 crore realized as interest from fixed deposits made in HDFC Bank.
“Tanla’s quarterly performance bucks the trend amidst the raging pandemic disrupting global economies,” said Uday Reddy, Chairman & Managing Director of Tanla. “Our unique market standing as a leading Digital and Cloud Communications player have resulted in robust topline and bottom-line growth both YOY and QOQ.”
Commenting on TRAI’s directive for commercial launch of DLT services from Sept 1, 2020, Uday Reddy said, “With the commercial rollout of Trubloq slated for September 1, this blockchain enabled platform has the traction to become the gold standard in its space. For Regulators, Telco’s and Enterprises alike spams and mobile fraud risks can be mitigated and additionally provide the end users with the power to choose.”
