Tanla Platforms falls 3% after company ends pact with Vodafone

Tanla Platforms’ share price fell more than 3% in first trading on August 21 when the company decided not to pursue the deal with Vodafone Idea.
The company signed a term sheet with Vodafone Idea to provide platform and firewall services for international A2P services in November 2021, effective for a period of 2 years.
The company said the partnership will not continue beyond the original term.
This will have a revenue impact of Rs 17 billion and an impact on PAT of Rs 9 billion on a full quarterly basis after November 2023, the company added. The company posted a 34.8% year-on-year increase in the June quarter, net profit to Rs 135.4 crore and operating revenue up 13.9% to Rs 911 crore. Tanla Platforms Limited is a technology-based media company providing cloud communication solutions. The company’s customer base includes leading companies such as Vodafone, Airtel, Facebook, HDFC Bank and Axis Bank.
At 09:24, the Tanla Platform was trading at Rs 1,078.75, down Rs 20.40, or 1.86% on BSE.
The stock hit a 52-week high of Rs 1,317.7 and a 52-week low of Rs 506.10 on July 24, 2023 and March 27, 2023, respectively.
Currently, the stock is trading 18.13% below the 52-week high and 113.15% above the 52-week low.