The shares of Tanla Platforms hit at 5 per cent upper circuit at Rs 1,675.90 on the BSE on Tuesday after the company announced the partnership with Vodafone Idea (Vi), reported Business Standard.
Interestingly, this was also share’s 52-week high record.
Tanla and Vodafone Idea announced a partnership wherein Tanla will be the exclusive provider of solutions to secure, encrypt and enhance performance for the entire international messaging traffic on the Vi network,” reported Moneycontrol, citing a BSE release issued by Tanla Platforms.
The companies entered into a partnership to deploy patented block-chain enabled Wisely Platform to manifold increase ROI for global enterprises,
Uday Reddy, Founder Chairman and CEO of Tanla Platforms Limited, said, Our partnership with Vi, powered by Wisely platform, is a massive step forward to lead the global digital interactions space. Wisely platform is a win-win proposition for all stakeholders – consumers, global enterprises, suppliers, and regulators – as we are committed to innovating with the entire ecosystem in mind,” BSE filing said.
“I am confident this partnership will help expand our global footprint by addressing the needs of global enterprises not just in India but across the world,” he added.
In the past one month, the stock of Tanla has outperformed the market by surging 36 per cent, as compared to a 5 per cent decline in the S&P BSE Sensex. Moreover, in the past three months, it has zoomed 88 per cent, as against a 2 per cent fall in the benchmark index.
Tanla and VIL are confident that this expansion of their long-standing relationship will reimagine the future of the messaging industry in India.
For Q2FY22, Tanla Platforms posted 67 per cent year on year (YoY) jump in its profit after tax (PAT) at Rs 136 crore on the back of healthy operational performance. The company's revenue increased by 44 per cent YoY at Rs 842 crore. Earnings before interest, tax, depreciation and amortization (ebitda) margin improved by 452 basis points (bps) at 21.2 per cent.
What analysts say:
Tanla is expected to grow strongly, based on continued growth in enterprise messaging volumes; increasing Trubloq platform volumes (higher margins); scaling up of Wisely platform (developed by Tanla in partnership with Microsoft); and up-selling and client addition, analysts at HDFC Securities said in its initiate coverage report dated November 18, 2021, according to Business Standard report.
