Telecom Lead India: Tata Communications’ revenues increased 27 percent to Rs 42,710 million ($774 million in the second quarter ended 30 September 2012.
Tata Communications posted net loss of Rs 2,742 million in the second quarter of 2012-13 against net loss of Rs 1,652 million in the same period last fiscal.
Profits were affected due to Impact due to regulatory changes (WPC WiMax charges and increase in license fee rate); One time actuarial loss on Canada pension fund; Unfavorable settlements in Global Voice Services as compared to positive settlements previous quarter and increased sales spending and investments for future growth.
Tata Communications full result here
The company’s EBITDA grew 21 percent.
Tata Communications said its managed services maintain traction growing at 26 percent y-o-y during Q2 of 2012-13.
Core Business revenues increased 30 percent to Rs 37,840 million.
Global Voice Services (GVS) carried 15.3 billion voice minutes during the quarter against 13.1 billion minutes in the same quarter last year.
Global Data Services (GDS) revenue increased 25 percent to Rs 16,703 million.
Revenue of the company’s Startup Businesses, comprising primarily of Neotel, increased 5 percent to Rs 4,870 million.
Vinod Kumar, MD and Group CEO, Tata Communications, said, “We have sustained top-line momentum in an environment that has continued to be challenging, globally. The size and scale of our Core Business has been growing consistently, benefiting from a combination of our investments in global infrastructure and our innovative approach to clients’ needs across business lines and geographies.”
“We are enthused by the potential we see in the emerging markets and are committed to developing a leadership business in these regions. Our efforts to drive sales at Neotel are bearing visible results while our initiatives at streamlining operations have fundamentally strengthened the business and its ability to deliver strong results,” Kumar added.