Tata Communications announces Its Financial Results

Tata Communications has announced its financial results for the quarter and half year ended September 30, 2012. Consolidated gross revenues showed an increase of 27% at Rs.42,710 million (USD774 million @avg. Fx of INR/USD55.21) in Q2 FY2013 from Rs.33,736 million (USD738 million @avg. Fx of INR/USD45.74) in the corresponding quarter last year. The core Business revenues were up by 30% at Rs.37,840 million (USD685 million) from Rs.29,079 million (USD636 million) in Q2 FY2012. 

 

Consolidated Gross Revenues stood at Rs.83,784 million (USD1,535 million @avg. Fx of INR/USD54.60) in H1 FY2013 from Rs.66,307 million (USD1,466 million @avg. Fx of INR/USD45.23) last year, showing an increase of 26%. The Core Business delivered revenue growth of 28% at Rs.74,305 million (USD1,361 million) from Rs.57,842 million (USD1,279 million) in the corresponding period last year.

 

Vinod Kumar, MD & 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.”