Tanla Platforms reports its highest quarterly profit

Tanla Platforms, a cloud communication solution provider, reported a net profit of Rs 104.5 crore in the first quarter of fiscal year (FY) 2022, up 2 percent over the previous quarter, and 33 percent over the same quarter a year ago. It was the highest-ever quarterly profit for the company.

“This was driven by increasing contributions from our platform business,” said Uday Reddy, Chairman and CEO of Tanla Platforms, in a stock exchange filing on Thursday. Its Platform-as-a-service (CPaas) caters to enterprises and mobile operators.

Tanla's platform business’ contribution to gross profit margin grew from 17 percent a year ago to 31 percent in the first quarter of fiscal year 2022, owing to growing adoption of its blockchain-based secured platforms ‘Wisely’ and ‘Trubloq’, the company said.

Its revenue of Rs 630.7 crore was 3 percent lower than the previous quarter, but 34.5 percent higher than its quarterly revenue a year ago. Its operating margin was 21.5 percent in the first quarter of FY 2022.

“This is a tangible demonstration of the strong unit economics within our business, and showcases the inherent strength of the business model,” Reddy said, in the stock filing.

In the June 2021 quarter, Tanla added 13 customers with more than Rs 50-crore revenue. Its enterprise grade platform, Wisely, has been built for the CPaaS ecosystem and is seeing strong traction, Reddy said. “As we look forward, we will stay focused on our ‘one platform’ strategy.”