Sensex Trades Flat, Dow Futures Down By 31 Points

Moving on to stock-specific news...

Among the buzzing stocks, today is Tanla Platforms.

Cloud communications firm Tanla Platforms on 19 May reported a consolidated net profit of Rs 1 bn for the quarter ended March (Q4FY21). The company had posted a consolidated net loss of Rs 891 m in the year-ago period.

The company's total income increased by 23.6% year-on-year (YoY) during the quarter to Rs 6.5 bn as against Rs 5.3 bn in the corresponding quarter last year, the company said in a statement.

Tanla added 68 new customers during the reported quarter.

"We delivered another fantastic quarter to cap a record-breaking 2021 across all key parameters, with over Rs 23 bn in full-year revenue.

"These stellar results continue to demonstrate Tanla's strong platform and enterprise offerings, our focus on customer success, and commitment to enable their communication needs," Tanla Platforms Chairman and CEO, Uday Reddy said in the statement.

For the year FY21, Tanla Platforms posted a profit of Rs 3.6 bn. The company had registered a loss of Rs 2.1 bn in FY20. The annual income of the company improved by around 21% to Rs 23.6 bn in FY21 compared to Rs 19.6 bn in FY20.

Tanla and its subsidiaries also added a total of 259 customers during the year that enhanced the company's revenues by Rs 950 m.

We will keep you posted on updates from this space. Stay tuned.

At the time of writing, shares of Tanla Platforms were trading down by 0.4% on the BSE.

In news from the finance sector...

Indiabulls Housing Finance Q4 Results: Profit Jumps Two-Fold to Rs 2.8 bn 

Mortgage financier Indiabulls Housing Finance on 19 May reported a two-fold jump in its net profit to Rs 2.8 bn for the quarter ended March, helped by stable asset quality. The company had reported a net profit of Rs 1.4 bn in the corresponding quarter last year."The quarter was very good. We have been focussing on asset quality, which is very robust. Overall, there has been above 100% increase in our profit from Rs 1.4 bn in Q4FY20 to Rs 2.8 bn this year (Q4 FY21)," the company's Vice Chairman, Managing Director, and CEO Gagan Banga said.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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