Tanla Platforms shares fall over 6% post Q3 earnings; check details

Shares of Tanla Platforms Ltd slipped over 6% in early trade today after the cloud communications firm reported its December 2023 quarter earnings. The multibagger IT stock slipped 6.67% at Rs 1058.70 against the previous close of Rs 1134.40 on BSE. Market cap of Tanla Platforms fell to Rs 14,420 crore. The stock opened lower at Rs 1119.95. Tanla Platforms stock has lost 3.44% this year and risen 58.35% in the last one year. The stock delivered multibagger returns of 3133% in five years. Total 0.61 lakh shares of the firm changed hands amounting to a turnover of Rs 6.56 crore on BSE.

The stock has a beta of 1.1, indicating high volatility in a year.

In terms of technicals, the relative strength index (RSI) of Tanla Platforms stock stands at 53, signaling it's trading neither in the overbought nor in the oversold zone. Tanla Platforms stock is trading lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.

The software services firm reported a 20.3 percent on-year rise in net profit at Rs 140.1 crore for the October-December quarter of 2023 against Rs 116.5 crore in Q3 of the previous fiscal. Net profit margin came at 14 percent. Revenue from operations in Q3 rose 15.3 percent YoY to Rs 1,002.6 crore against Rs 875.7 crore in the December quarter of previous fiscal.

EPS climbed to Rs 10.4 in the last quarter against Rs 8.6 in the December quarter of 2022.

Tanla Platforms is a cloud communication provider. It is a provider of application to person (A2P) messaging platforms. It develops and delivers technology and products, which meet the needs of a diverse clientele, from enterprises to carriers across the world. It provides mobile messaging and payment solutions for A2P messaging services.

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