Tata Communications Clock Rs 299 Crore Net Profit In Q4 Of FY21

Tata Communications has clocked a consolidated net profit of Rs 299 crore for the fourth quarter of financial year 2020-21. Reportedly, the Indian telecommunication giant recovering from Rs 275 crore loss a year ago due license fee gained strong operating performance as it reaped highest profit in last 11 years. Terming the FY21 as a ‘great year’ Tata Communications MD and CEO A S Lakshminarayanan said the company made “excellent progress on our well-defined strategy.” Pumped up by the financial gains, the company board recommended a dividend of Rs 14 per share. Notably, the company maintained profitability despite lower revenue growth including 7.4 loss in the consolidated revenue and 2.2% dip in data revenue.