Tanla Platforms shares hit upper circuit on buyback plan
Tanla recently acquired Karix, the market leader in the Indian CPaaS space, and marketing automation company Gamooga.
Tanla Platforms hit an upper circuit of 5% at Rs 886.25 after the company said its board will consider a share buyback on Thursday, 22 July 2021. On the same day, the company will consider and approve the unaudited financial results for the quarter ended 30 June 2021
On a consolidated basis, Tanla Platforms’ net profit stood at Rs 102.54 crore in Q4 FY21 compared with net loss of Rs 89.13 crore in Q4 FY20. Net sales surged 24.2% to Rs 648.56 crore in Q4 FY21 compared with Rs 522.08 crore in Q4 FY20.
Company Profile
Tanla is a leading cloud communications provider enabling businesses to communicate with their customers, stakeholders and intended recipients. Tanla processes more than 800bn interactions annually and about 62% of India’s A2P SMS traffic is processed through its distributed ledger platform – Trubloq, a blockchain-based solution aimed at filtering spam SMSs. Its cloud-based platforms provide ease of connectivity to enterprises and aggregators with a plug-and-play approach that shrinks delivery times of their end-user communications and continues to provide quality of services.
The company derives its revenues from two main sources – platforms and enterprises. Its platforms are deployed with all major telecom operators in India, providing it access to the entire subscriber base of the operators. It serves enterprise customers spread across a diverse spectrum of businesses, including but not limited to BFSI, social media, e-commerce, government sector and aggregators based on multi-year contracts with an automatic renewal clause, unless specified otherwise.
Tanla recently acquired Karix, the market leader in the Indian CPaaS space, and marketing automation company Gamooga to expand its bouquet of services. The company launched Wisely in Jan’21, a CPaaS platform offering a digital marketplace for enterprises and suppliers, with global edge-to-edge network, delivering private, secure and trusted experience. Since its launch, Wisely has processed 7.9 billion transactions.
(With inputs from Capital Market – Live News)
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