HYDERABAD, India, July 22, 2021 /PRNewswire/ -- Tanla Platforms Limited, India's largest CPaaS provider, today announced its financial results for the quarter one of FY'21-22.
Key Metrics: First Quarter
- Revenue was â‚¹626.38 crore, and grew by 38% YoY
- Operating profit stood at â‚¹134.53 crore, and grew by 79% YoY
- Net Profit was â‚¹104.48 crore, and grew by 33% YoY
- Earnings per share was â‚¹7.68, and grew by 49% YoY
- Cash conversion (operating cash flow to operating profit) was at 102%
- Cash & Cash Equivalents was â‚¹717.11 crore, up from â‚¹247.02 crore
The Board of Tanla approved buyback of equity shares, for an aggregate amount not exceeding â‚¹65 crore at a price not exceeding â‚¹1,260 per equity share, payable in cash, from the open market through stock exchange mechanism in accordance with the applicable regulations.
Uday Reddy, Chairman & CEO, Tanla Platforms Limited said, "We had a stellar start into the year with consistent acceleration in our revenue growth, while improving profitability and cash flows. The operating profit and net profit are at an all-time high, driven by increasing contribution from our platform business. Our financial performance is an outcome of our innovation led strategy and focused execution.
Tanla is growing at rate of knots. There is a Rule of 40 out there for SaaS companies, but Tanla has grown organically at Rule of 60 in Q1. This is a tangible demonstration of the strong unit economics within our business, and it showcases the inherent strength of the business model.
We are transforming the way large enterprises engage with their end customers. Our customers are growing, and we are growing with them. Our top 20 customers have grown 31% and we have 13 customers with annualized revenues greater than â‚¹50 crore in the quarter.
As we look forward, we will stay focused on our 'one platform' strategy. Wisely, our enterprise grade platform built for the entire CPaaS ecosystem, is seeing strong traction. Our alliance with Microsoft as a technology, cloud and GTM partner will pave way for our global expansion."
India's largest CPaaS provider registers strong growth while maintaining market leadership.
On a year-on-year basis, revenues grew by 38% to â‚¹626.38 crore for the first quarter. We have consistently accelerated our growth trajectory every quarter year over year.
The operating profit for the quarter was at an all-time high of â‚¹134.53 crore and grew by 79%. Operating profit margin for the quarter increased from 16.4% to 21.5%. Cash conversion (Operating cash flow to operating profit) was at 102%.
Net profit for the quarter was at an all-time high of â‚¹104.48 crore, delivering second consecutive quarter of â‚¹100 crore+ net profit.
Tanla and all its subsidiaries continue to remain debt free with surplus cash reserves.
Products & Platforms
- Wisely, launched in January this year has gained traction among our customers. We have onboarded six marquee customers on the platform.
- Trubloq, the DLT platform built on blockchain to enforce the TRAI regulation saw massive adoption. We added 4,353 enterprises to the platform for the quarter.
- Contribution of Platform business to overall gross margin has increased from 17% to 31%.
- The customer base has expanded with addition of 73 new customers during the quarter.
- Revenues from our top 20 customers have grown by 31% year-on-year and contribute to 66% of the overall revenue.
- We have 13 customers with annualized revenues of greater than â‚¹50 crore.
Response to Covid
Vaccination drive is currently under way for employees and their families. To date, 58% of employees along with their family members have been vaccinated.
Incorporation of subsidiary
Tanla Foundation has been incorporated to implement the CSR initiatives of the company.
Invitation to earning call:
Tanla will host a conference call and live webcast to discuss the financial results.
Conference call details:
The conference call will begin at 5.30 PM IST on July 22, 2021. Interested parties may listen to the call by dialing +91 22 6280 1141 / +91 22 7115 8042, or if outside India, by dialing toll free number UK 08081011573, USA 18667462133, Hong Kong 800964448, and Singapore 8001012045. The live audio webcast link will be available on the Tanla website
Tanla Platforms Limited (NSE: TANLA); (BSE:532790) transforms the way the world collaborates and communicates through innovative CPaaS solutions. Founded in 1999, it was the first company to develop and deploy A2P SMSC in India. Today, as one of the world's largest CPaaS players, Tanla processes more than 800 billion interactions annually and about 62% of India's A2P SMS traffic is processed through its distributed ledger platform-Trubloq, making it the world's largest Blockchain use case. Tanla touches over a billion lives carrying mission critical messages meeting the needs of the world's largest customers. Tanla Platforms Limited is headquartered in Hyderabad, India and is expanding its presence globally.
This document contains "forward-looking" statements, and these statements involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, expectations of future operati ng results or financial performance, market size and growth opportunities, the calculati on of certain of our key financial and opera ting metrics, plans for future operati ons, compe titive posi tion, technological capabili ties, and strategic rela tionships, as well as assump tions relati ng to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quanti fied. In some cases, you can identi fy forward-looking statements by terminology such as "expect," "anti cipate," "should," "believe," "hope," "target," "project," "plan," "goals," "es timate," "potenti al," "predict," "may," "will," "might," "could," "intend," "shall," and varia tions of these terms or the negati ve of these terms and similar expressions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indicati ons of the times at, or by, which such performance or results will be achieved, if at all.
Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. If the risks or uncertainties ever materialize or the assumpti ons prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. We assume no obligati on and do not intend to update these forward-looking statements or to conform these statements to actual results or to changes in our expectations, except as required by law.
This document contains sta tisti cal data, es timates and forecasts that are based on independent industry publica tions or other publicly available informati on, as well as other informa tion based on our internal sources. This informa tion involves many assump tions and limitati ons, and you are cauti oned not to give undue weight to these es timates. We have not independently verified the accuracy or completeness of the data contained in these industry publica tions and other publicly available informati on. Accordingly, we make no representati ons as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this document.
By receiving this document, you acknowledge that you will be solely responsible for your own assessment of the market and our market positi on and that you will conduct your own analysis and be solely responsible for forming your own view of the potenti al future performance of our business.
Any logos or trademarks (other than Tanla, Karix, Gamooga. Trubloq & Wisely) included herein are the property of the owners thereof and are used for reference purposes only.
Consolidated statement of Profit and Loss (Un-audited):
Particulars (INR in Lakhs)
I. Revenue from operations (net)
II. Other income
III. Total Income (I+II)
Cost of services
Employee benefits expense
Depreciation and amortisation expense
Total expenses (IV)
V. Profit before share of profit/loss of associate
and income tax (III - IV)
VI. Share in net profit/(loss) of associate
VII. Profit before tax (V - VI)
VIII. Tax expense:
Prior period taxes/MAT credit
IX. Net Profit for the period (VII - VIII)
X. Other comprehensive income
XI. Total Comprehensive income for the period (IX + X)
XII. Earnings per equity share
Basic & Diluted (not annualized for quarters)
Consolidated Abridged Cash Flow Statement (Un-audited):
Net cash provided by/(used in):
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the period
Operating profit: Earnings before Interest Taxes and Depreciation
For any additional information, please contact:
Director- Investor relations