Tanla Platforms Limited Shares Down by 3.15% Despite 17.1% Revenue Growth in FY 2024

On April 25, 2024, Tanla Platforms Limited released its financial results for the fiscal year ended 2024 and Q4 FY 2024. In FY 2024, the company reported an increase in its revenue by 17.1% year-over-year to ₹39,278 million.

Financial Highlights of FY 2024

In FY 2024, Tanla Platforms Limited reported a gross profit of ₹10,559 million, with a gross margin of 26.9%. The company’s adjusted profit after tax increased by 23.0% year-over-year to ₹5,542 million. Its reported PAT was ₹5,483 million. The earnings per share (EPS) increased by 23.4% year-over-year to ₹40.78. The company’s Cash and cash equivalents stood at ₹6,810 million, and free cash flow stood at ₹4,311 million.

Financial Highlights of Q4 FY 2024

In the quarter ended March 2024, the company’s revenue grew by 20.6% year-over-year to ₹10,055 million. The company reported a gross profit of ₹2,686 million and a gross margin of 26.7%. The Adjusted EBITDA stood at ₹1,877 million, and the Reported EBITDA stood at ₹1,604 million.

In Q4 FY 2024, the company’s adjusted Profit after tax increased by 10.4% year-over-year to ₹1,361 million. Its reported PAT stood at ₹1,302 million. In the same quarter, the earnings per share increased by 9.1% year-over-year to ₹9.69, and the free cash flow was at ₹1,492 million.

Commenting on the annual financial performance, the Founder Chairman and CEO, Uday Reddy, said, “FY24 has been an eventful year across all dimensions of innovation, customer success, and brand– commercialising greenfield platforms like Wisely ATP, value creation through the successful integration of ValueFirst acquisition, the strategic shift towards OTT channels, and showcasing our brand at scale. I am very excited as we enter the new year with the opportunities ahead of us.”

Tanla Platforms stated that as part of their capital allocation policy of 30% dividend payout of their consolidated profit after tax, the Board recommended ₹6 per share as final dividend subject to shareholders’ approval in the Annual General Meeting.

During Q4 FY 2024, the company announced the launch of MaaP platform for Google RCS and signed an MOU with Vodafone Idea Business Services to deploy the MaaP platform in India. As another significant development during the same period, they also extended their exclusive partnership with Truecaller for two years.

On April 26, 2024, the share price of Tanla Platforms Limited opened at ₹957.00. As of 1:22 PM, the share was trading at ₹936.65, down by 3.15% on the NSE.

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