Tata Communications’ overseas revenues continue to outgrow India: CEO

economictimes.indiatimes.com:

Tata Communications’ overseas revenues have continued to outgrow its India revenues for three consecutive quarters and hold a 58:42 ratio as of end-June 24, chief executive AS Lakshminarayanan told ET.

“In the US and European markets, we are a challenger, so there is a much bigger white space for us to chase and that's why two years ago we started making all these investments in sales and marketing and our products. All of that has started to pay dividends, and we are happy to see the results,” the executive said in a virtual conversation after the company declared its first quarter FY25 earnings.

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Meanwhile, in India, we are already a leader, our ambition is to maintain the leadership position and grow the India business, he added.

For the April-June 2024 period, the company reported a 12.78% decline in net profit to Rs 332.93 crore for Rs 381.75 crore from a year ago. On-quarter basis the profit was up 3.54% from Rs 321.52 crore posted in the March-end quarter.

“Our subsidiaries, TCTS, the transformation service, the ATM business, had a drag on profitability and we consolidated those. Secondly, last year we did two large M&A transactions so we incurred expenses related to due diligence, consultant fees etc. And the third is, these acquisitions were