Tanla Platforms has been among the top five losers on the BSE since the opening bell today morning; Opening over 2% lower at Rs.1075, the stock price further slumped down to an intraday low at Rs.1045.40, down 5%.
The stock price fell after the company said that it has decided to discontinue its agreement with Vodafone Idea.
This was a term sheet agreement with Vodafone for provision of platform and firewall services for international A2P services in November 2021
This was valid for a term of 2 years and the partnership will not continue beyond the initial term.
The company said that this will have a revenue impact of Rs 17 crore and PAT impact of Rs 9 crore on a full-quarter basis post November 2023.