Mumbai, India - 10 November 2011 - Tata Communications has reported its consolidated financial results according to Indian GAAP for the quarter ended 30 September 2011. Gross revenue was at Rs. 3,374 crore (US$ 738 million) for the quarter ended 30 September, 2011 against Rs. 2,961 crore (US$ 637 million) reported in the corresponding quarter last year. Operating profit (earnings before interest, taxes and depreciation) grew 60% to Rs. 478 crore (US$ 105 million) for the quarter ended 30 September, 2011 against Rs. 299 crore (US$ 64 million) in the corresponding quarter last year.
The Global Data and Global Voice segments of Tata Communications’ Core Business also showed strong improvements in revenues and profit margins. The Data segment’s gross revenue grew 12% and the Voice segment’s net revenue grew 4% YoY across their global operations. The Core Business’ EBITDA margin improved by 370 bps YoY to 16.1% in Q2. On the back of revenue growth and improved operating efficiencies, the Core Business turned profitable with a PAT of Rs. 18 crore during the quarter ended 30 September 2011.
Neotel, Tata Communications’ subsidiary in South Africa, continued its growth momentum. It posted a 30% YoY growth in revenue and for the first time reported an operating profit this quarter.
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