BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Tata Communications Ltd.'s Q2 FY21 revenues were flat (in-line) despite the expectation of increasing data usage due to work from home.
Ebitda jumped 11% QoQ (12% beat), led by sharp data margin improvement, which can be partly attributed to cost cutting initiatives and some portion to one-time Covid-19 cost benefit.
We have increased our FY21/FY22E Ebitda estimates by 9%/10% due to better-than-expected Ebitda, driven by the cost initiatives.
We have built in 23% Ebitda compound annual growth rate over FY20-22E with 106% growth for H2 FY21.
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