Through optimal utilisation of financial capital, we intend to maximise the value created for our shareholders with a key focus on sustainable solutions. Through strategic investments in vital resources and the ability to seize emerging opportunities, we have established a resilient business model, poised for perpetual growth, solidifying our position as an industry leader.
Our strong and consistent economic performance serves as a foundation for sustained value creation for all our stakeholders. It fortifies the trust and confidence our stakeholders have in our business model and growth trajectory.
The economic dimension of sustainability revolves around our impact on the economic condition of stakeholders, as well as on economic systems at the local, national, and global levels. In this section, we have captured the movement of capital among various stakeholders as well as the value addition from an economic perspective on society and stakeholders.
We have continued to enhance our economic performance gradually, to add value to our stakeholders from various avenues that include operating costs, employee benefits, community investments etc. The detailed figures have been included in the annexure to this report and below is the representation of our contribution to the stakeholder value creation over a 3-year period. We havent received any financial assistance from the government during the reporting period across the locations of our operations in FY 23
Our consistent economic performance has allowed us to make substantial investments for employee welfare and development programmes. In FY 2022- 2023, we increased such investments by 15% compared to FY 2020-2021. For more details refer ‘Empowering Our People’ chapter for more details.
For our customers, our solid financial standing allows us to continually invest in the advancement of technology and innovative solutions. Over the past three years, we have increased our investments in digital capabilities directly contributing to enhanced customer experience and satisfaction. During the year we launched Tata Communications DIGO branded service which is available only in select countries; our customer interaction platform. This platform provides enterprises with a unified view of all their customers’ conversations and interactions across various channels. Additionally, we offer an extensive library of applications that serve as connectors, augmenting the capabilities of enterprises’ existing applications.
Our focus on bolstering our managed network services has been a key driver of this success, exemplified by the introduction of our new IZO™ Internet WAN variants designed specifically for global enterprises. These enhancements have allowed us to offer predictable and reliable network services, extending our reach to over 150 geographies worldwide. During the year we expanded our customer base in the Media and Entertainment Services business through a multi-year collaboration to become the Official Broadcast Distribution Provider for the ABB FIA Formula E World Championship and supporting the sport’s sustainability initiative by delivering a cloud-based remote broadcast production. Through enabling remote production, we helped Formula E reduce their costs by 40% to 50% and also reduce emissions.
We focus upon optimally using our resources to create value for our stakeholders by utilising funds for growth and maintaining profit. We attributed the growth of 21.2% in our profit after tax. Our Digital portfolio has proven to be increasingly meaningful to our customers, making a significant difference to their ecosystems and contributing to a remarkable growth rate of 21.3%. This year, the dividend per share for our investors and shareholders have been higher (INR 21 per share) in comparison with our dividends since FY 2020. We also consider the inputs from our shareholders and investors to enhance and incorporate ESG indicators in our operations and disclose performances on an annual basis.
Our suppliers are one of the key factors that helps in driving our business forward. In this fiscal year, we have spent USD 795 Million (INR 6,591 crores) to engage with all our suppliers across the globe. We continue to add value, generate meaningful relationships, and provide upskilling opportunities for our select suppliers through training sessions on a need basis. For More details refer ‘Sustainable and Responsible Supply chain’ chapter for more details. .
Our positive economic performance also enables us to actively contribute to the communities we operate in. Over the past year, we have increased our expenditure by 46% to engage in community-focused initiatives that lead to sustainable development. For more details refer ‘Building Sustainable Communities’ chapter for more details.
As we move forward, Tata Communications continues to uphold its commitment to consistent growth, strategic investments, and shared prosperity. Our resilient financial performance has laid a solid foundation for future endeavours, enabling us to retain a competitive edge and deepen our commitment to creating sustainable value for our shareholders and stakeholders.
In terms of value creation, we aim to escalate our economic performance further, thereby amplifying the benefits for our shareholders, employees, customers, and the communities we serve. For our investors, we intend to provide sustained growth and solid returns, exemplified by our impressive financial growth in net revenue and PAT in recent years. For our employees, we are committed to investing in their development and welfare. Simultaneously, we hope to make technological advancement a priority for our customers and offer innovative solutions that meet their evolving needs.
Our societal responsibility is also paramount, and we will continue to allocate resources to uplift the communities we operate in. In the next few years, we anticipate an upward trend in our CSR activities, stemming from our strong commitment to sustainability and social development.
