Tata Communications shares zoom over 10 pct on smart quarterly result

Written by PTI | Mumbai | Updated: Oct 31 2013, 03:33am hrs
Tata Communications sharesOn the NSE, Tata Communications shares zoomed 10.07 per cent to Rs 251.50. Reuters
Shares of Tata Communications today shot up by over 10 per cent after the company reported a net profit of Rs 80.36 crore for the quarter ended September 30.

Tata Communications Ltd shares spurted by 10.26 per cent to end trade at Rs 251.95 on the BSE. During the day, the scrip surged 12.91 per cent to Rs 258 -- its 52-week high.

On the NSE, Tata Communications shares zoomed 10.07 per cent to Rs 251.50.

Tata Communications had yesterday reported a net profit of Rs 80.36 crore for the quarter ended September 30, 2013, on the back of growth in managed services and voice offerings.

The company had reported a net loss of Rs 274.24 crore in the corresponding period last fiscal, Tata Communications said in a statement.

Total income of the company rose 15.95 per cent to Rs 4,952.61 crore for the reported period as compared to Rs 4,270.99 crore last financial year.

Gross revenues for the core business improved by 17 per cent at Rs 4,418.7 crore against Rs 3,784 crore during Q2 FY2013.