Tanla Platforms falls 3% after company ends pact with Vodafone

Tanla Platforms share price fell more than 3 percent in the early trade on August 21 as company decided not to continue the agreement with Vodafone Idea.

The company had entered into a term sheet with Vodafone Idea for provision of platform and firewall services for international A2P services in November 2021, which was valid for a term of 2 years.

This partnership will not continue beyond the initial term, company said.

This would have a revenue impact of Rs 17 crore and PAT impact of Rs 9 crore on a full-quarter basis post November 2023, the company added.

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The company had reported 34.8 percent YoY jumped in June quarter net profit at Rs 135.4 crore and revenue from operations increased by 13.9 percent at Rs 911 crore.

Tanla Platforms Limited is a technology-driven communications company providing cloud communication solutions. The company counts prominent companies like Vodafone, Airtel, Facebook, HDFC Bank and Axis Bank among its clientele.

At 09:24 hrs Tanla Platforms was quoting at Rs 1,078.75, down Rs 20.40, or 1.86 percent on the BSE.

The share touched a 52-week high of Rs 1,317.70 and a 52-week low of Rs 506.10 on 24 July, 2023 and 27 March, 2023, respectively.

Currently, the stock is trading 18.13 percent below its 52-week high and 113.15 percent above its 52-week low.

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