The shares of the multinational cloud communications company 5 percent after the company extended its partnership with Truecaller to deliver a customized solution, and launched its new product Wisely ATP Spotlight.
With a market capitalization of Rs 13,537.42 crore, the shares of Tanla Platforms Ltd were trading at Rs 1,006.80 apiece, increasing around 1 percent as compared to the previous closing price of Rs 997.25 apiece.
According to the company filing, The partnership between Tanla and Truecaller was started in 2022, to provide a rich interactive messaging experience to its customers but now the company wants to extend its partnership with Truecaller to deliver a customized solution to enterprises.
Furthermore, this partnership aims to help enterprises connect with tier end-users and offer highly customized solutions, including rich media and engaging content.
Additionally, the company has launched its new product Wisely ATP Spotlight, this innovative citizen protection bot that empowers individuals to easily identify and avoid online scams, fostering a safer digital environment for everyone.
Looking at the company’s financials, Tanla Platforms Ltd’s sales inclined by 15% from Rs 870 crore in Q3FY23 to Rs 1,003 crore in Q3FY24. During the same period, net profit inclined by 19% from Rs 117 crore to Rs 140 crore.
As of December 2023, The company has market leadership in India with a 35% CPaaS market share and Tanla has an international presence across 4 regions which include North America, Europe, SEA & Middle East, serving marquee tech giants and large Indian enterprises.
The company’s 335 customers contribute Rs 10 Mn annual revenue, number of customers up by 6% YoY. In consumer electronics 30 percent higher repeat rates on engagement programs for coupons 34 times revenue boost with a 14.5% coupon redemption rate.
Tanla Platforms Ltd. is a cloud communications startup that enables businesses to engage with their consumers and intended recipients. It is based in Hyderabad, India. It is a global supplier of application-to-person (A2P) messaging platforms.
Written by:- Abhishek Singh
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