India's Tanla Platforms down after decision to discontinue Vodafone partnership

Tanla Platforms

21/08/2023 06:07

** Shares of Tanla Platforms  TNSL.NS  down as much as 4.7%
to 1,046.15 rupees, their lowest level since July 13
    ** Cloud communication and platform solutions provider on
Friday said it has decided not to continue its partnership with
Vodafone Idea  VODA.NS  
    ** Co had term sheet with Vodafone Idea for provision of
platform and firewall services for international
application-to-person (A2P) services in November 2021, valid for
two years
    ** This partnership will not continue beyond the initial
term, TNSL said in an exchange filing
    ** Co added this would have a revenue impact of about 170
mln rupees ($2.1 mln) and PAT impact of about 90 mln rupees on a
full-quarter basis post November 2023

($1 = 83.1060 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))