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Tanla Platforms Limited: Scaling New Heights in India’s CPaaS Landscape

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Tanla Platforms Limited, India’s largest Communications Platform as a Service (CPaaS) company, has been making remarkable strides in the cloud communications space. With a strong financial performance in Q1 FY24, the company’s stock has surged to a new 52-week high, indicating its growth potential and investor confidence. Let’s delve into the key financial highlights and growth factors that have propelled Tanla Platforms to the forefront of India’s CPaaS industry.

You can read more about Tanla Platforms in our previous blog, click here!

Financial Highlights:

During the quarter ended June 30, 2023, Tanla Platforms reported an impressive total income of Rs. 916 crore, marking a significant increase compared to Rs. 838 crores recorded in the previous quarter (ended March 31, 2023). Moreover, the company’s net profit rose to Rs. 135 crore, showing a promising growth trajectory from the Rs. 120 crore posted in the same period of the last quarter.

Stock Performance:

The news of Tanla Platforms’ strong Q1FY24 performance has sent its stock soaring, with a 7.3% jump on Friday, July 21, reaching a new 52-week high of Rs. 1,198.70 per share. The stock has witnessed robust growth in the past six months, surging over 72%, and an impressive return of almost 3000% in the last five years.

Analyst Outlook:

Domestic brokerage HDFC Securities has maintained a ‘BUY’ rating on the stock, setting a target price of Rs. 1,350, signaling a positive outlook and further growth potential.

Tanla Platforms’ outstanding financial results and impressive stock performance attest to its position as a market leader in India’s CPaaS landscape. As the company continues to leverage its technology and strategic vision, it holds the potential to drive significant growth in the cloud communications space and play a crucial role in India’s digital transformation journey.

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Klint Furtado

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