HYDERABAD, India, Aug. 12, 2020 /PRNewswire/ — The Board of Tanla Solutions LimitedÂ (NSE: TANLA) (BSE: 532790)Â at its Board Meeting held on August 12, 2020 announced the un-audited financial results for the quarter ended on June 30, 2020 for FY21.
‘Tanla’sÂ quarterly performance bucks the trend amidst the raging pandemicÂ disruptingÂ global economies,’ said Uday Reddy, Chairman & Managing Director of Tanla. ‘Our unique market standing as a leading Digital and Cloud Communications player have resulted in robustÂ toplineÂ andÂ bottom-lineÂ growth both YOY and QOQ.’
Commenting on TRAI’s directive for commercial launch of DLT services from Sept 1, 2020, Uday Reddy said, ‘With the commercial rollout ofÂ TrubloqÂ slated for September 1, this blockchain enabled platform has the traction to become the gold standard in its space. For Regulators, Telco’s and Enterprises alikeÂ spams and mobile fraud risks can be mitigated and additionally provide the end users with the powerÂ to choose.’
Corporate and other Highlights
Update on Buy-back
*Note: Listing approval from BSE Limited is pending for listing of 62,85,858 Equity Shares allotted on April 3, 2020 pursuant to conversion of warrants.
Update on Merger
The annual appraisal of the employees has been conducted and the employees have received the increments and promotions as per the Company Policy, for FY2021, resulting in the total resource cost increase by ~ 10%.
For Further Financial updates, visit https://tanla.com/investors.html
Internal Auditors: Deloitte Touche Tohmastu India LLPStatutory Auditors: MSKA & Associates
Tanla is a Hyderabad, India-based company, established in 1999. It is a global leader in its domain as one of the largest Cloud Communication providers, handling over 200 billion business communications annually. Tanla is innovating the way the world communicates, continuously raising the bar through enhanced speed, ease, and simplicity of Cloud Communication solutions, adopting cutting-edge technologiesÂ likeÂ blockchain, ArtificialÂ Intelligence,Â MachineÂ Learning to meet the discerning needs of a diverse clientele, from enterprises to carriers across geographies. Tanla has always adopted new technologies and has many patents to its name including world’s first blockchain based commercial communication stack ‘Trubloq’ to address the growing concerns for spam and fraud. Tanla is working with all leading Telco’s in India creating India’s first Telecom Blockchain Network. Tanla is a public limited company listed on leading Indian stock exchanges (NSE: TANLA & BSE: 532790)
This presentation might contain ‘forward-looking statements’ that are based on our current expectations, assumptions, estimates and projections about Tanla Solutions Limited (the ‘Company’), our industry, economic conditions in the markets in which we operate, and certain other matters. Those statements include, among other things, the discussions of our business strategy and expectations concerning our market position, future operations, margins, profitability, liquidity, and capital resources. These statements are subject to known and unknown risks, uncertainties and other factors and they depend on future events and circumstances. Such statements do not guarantee future results or development and the actual results or outcomes may differ materially from those implied by the forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in the services provided by the Company, including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions onÂ immigration,Â industryÂ segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which the Company has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, regulatory changes, legal restrictions onÂ raisingÂ capitalÂ orÂ acquiringÂ companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. In light of these and other uncertainties, you should not conclude that the results or outcomes referred to in any of the forward-looking statements will be achieved. All forward-looking statements are based on information available to us on the date hereof, and we do not undertake to update these forward-looking statements to reflect future events or circumstances unless required to do so by law.