Tanla Platforms Q2 FY26: platform growth, margin improvements despite challenges

Tanla Platforms discussed its Q2 FY26 financial results, noting an uptick in platform revenue driven by the Wisely.ai implementation, particularly the Indosat deal. This contract, operating on a SaaS-based model, ties revenue to the number of subscribers protected from scams, with benefits expected to continue in future quarters. The company plans to replicate this success with other telcos globally and with enterprises, and anticipates growth in its MaaP platform.

Gross margins improved in the enterprise communication space, reaching a five-quarter high. This was attributed to a favorable customer mix and stabilized pricing, despite promotional spends impacting OTT volumes sequentially. Tanla aims to continue this trend, with the platform business expected to be a major lever for further gross margin uplift.

However, the company revised its aspirational EBITDA target for the year, now aiming for a minimum of ₹750 crores, with a potential miss of up to ₹50 crores. This adjustment is due to challenges in the gaming industry, including the impact on large clients like Dream11, and a slowdown in WhatsApp incentives from Meta.