Tanla Platforms Limited, India’s largest CPaaS provider, today announced its financial results that showed its net profit has soared a staggering 33%.
On a year-on-year basis, revenues grew by 38% for the first quarter, Tanla said.
Uday Reddy, Chairman & CEO, Tanla Platforms Limited said, “We had a stellar start into the year with consistent acceleration in our revenue growth, while improving profitability and cash flows.
“The operating profit and net profit are at an all-time high, driven by increasing contribution from our platform business. Our financial performance is an outcome of our innovation led strategy and focused execution.”
He added: “Tanla is growing at rate of knots. There is a Rule of 40 out there for SaaS companies, but Tanla has grown organically at Rule of 60 in Q1. This is a tangible demonstration of the strong unit economics within our business, and it showcases the inherent strength of the business model.
“We are transforming the way large enterprises engage with their end customers. Our customers are growing, and we are growing with them. Our top 20 customers have grown 31% and we have 13 customers with annualized revenues greater than ₹50 crore in the quarter.
“As we look forward, we will stay focused on our ‘one platform’ strategy. Wisely, our enterprise grade platform built for the entire CPaaS ecosystem, is seeing strong traction. Our alliance with Microsoft as a technology, cloud and GTM partner will pave way for our global expansion.”
The operating profit for the quarter was at an all-time high and grew by 79%. Operating profit margin for the quarter increased from 16.4% to 21.5%. Cash conversion (Operating cash flow to operating profit) was at 102%.
