Tata Comm posts Q1 net at R94.28 cr

Written by fe Bureau | Mumbai | Updated: Jul 27 2013, 16:47pm hrs
Tata Communications swung to a profit of R94.28 crore on a consolidated basis during the April-June quarter, from a loss of R11.94 crore in the preceding quarter. The profits were on the back of higher revenue from the voice solutions business and lower finance costs.

The company clocked in 2% higher revenue at R4,497.9 crore for the quarter ended June, from R4,400.4 crore in the January-March quarter. Profit from the companys global voice solutions business rose 9% to R405 crore. Finance costs fell 11% during the quarter to R166.2 crore. The companys loss-making South African subsidiary Neotel reported a 4% increase in revenue to R479 crore. Tata Communication has 66.6% stake in Neotel.

Despite the continued softness in economic conditions, our business is pushing ahead. Our focus on talent, service innovation and marketing is enabling our business with wider market appeal and allows us to offer greater value, Tata Communications MD Vinod Kumar said.