India's Tanla Platforms eyes worst day ever as expenses dent Q1 profit

Tanla Platforms

26/07/2022 05:36

** Shares of cloud communications provider Tanla Platforms
 TNSL.NS  fall as much as 20% to 730.60 rupees, their biggest
intra-day pct drop ever
    ** TNSL also hits its lowest since February 2021
    ** Co on Monday reported over 38% drop in standalone net
profit, while consol profit was nearly flat (https://bit.ly/3oNHnkV)
    ** Overall expenses surged about 59%, led by higher service
costs
    ** Q1 had some operational headwinds in the Enterprise
business - Uday Reddy, Founder Chairman and Chief Executive 
    ** About 3.3 mln shares change hands, 10x 30-day avg of
about 332,000
    ** TNSL shares down ~52% so far this year as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))