Tata Communications clocked about Rs 8,263 crore (about US$ 2.05 Billion) in consolidated revenues for the year ended  March 31, 2008, according to audited financial results under Indian GAAP. 

Revenues were up 5% over the previous year in dollar terms but down 4% in Rupee terms due to the appreciation of the Indian rupee during FY08. The company’s Net Profits, according to Indian GAAP, were Rs 10  crores as against Rs 15 crore during the previous year.

“The year 2007-08 was a significant one in our history with the company being rebranded as Tata Communications. We continue to drive growth in our enterprise data services segment, while maintaining our leadership in the global wholesale market. Our global infrastructure and services platform coupled with major ongoing investments in emerging markets like India, Asia, Middle East and Africa will help us drive a new world of communications,” Mr N Srinath, Managing Director and CEO of Tata Communications said.

The Company’s Board recommended a Dividend payout of 45 % ie Rs 4.5 per share.

During the year, the Company was renamed as Tata Communications Limited and launched its new global identity of Tata Communications. The company also introduced several new services and partnerships, including:

·      Managed Hosting and Storage: Tata Communications launched its global Managed Hosting and Storage services for enterprises seeking to enhance efficiencies, reduce ownership costs, improve service quality and ensure business continuity in their IT infrastructure environments.  These fully managed services offer streamlined, scalable and highly secure management of IT infrastructure, network and storage initially in three globally diverse, world class data centers in New York, Singapore and London.

·          Telepresence: Tata Communications was the first service provider in Asia Pac region to launch Cisco® certified Telepresence Connection Services globally. Cisco TelePresence is an innovative, realistic virtual meeting solution that creates unique, "in-person" experiences allowing real-time, face-to-face communication over a converged IP network.  

·         China Market Entry: In February 2008, Tata Communications expanded its Global VPN service to China through an NNI (Network to Network Interface) agreement with China Enterprise Netcom Corporation Limited (China Entercom or CEC), a value-added telecommunication services and integrated IT solutions provider and subsidiary of CITIC (China International Trust and Investment Corporation). 

·         Content Delivery Networks: Tata Communications and BitGravity announced a global strategic partnership to address growing demand for high-quality Video over the Internet. Tata Communications will co-brand, resell and jointly market BitGravity's CDN technology platform worldwide leveraging its tier-1 IP network.

During 2007-08, the company also made major enhancements to its network & technology capabilities. The company announced and commenced the construction of the TGN - intra-Asia cable system linking Singapore, Hong Kong, Japan with an additional connection to the Philippines and potentially Vietnam. The company also announced and commenced the construction of a $250 million TGN Eurasia Cable system linking Mumbai to Paris, London, Madrid via Egypt.  The company also rolled out one of the world’s largest commercial Wimax networks, offering services to both its enterprise and retail customers  

Tata Communications (then VSNL) was named as the Best Pan-Asian Wholesale Provider at the 2007 Capacity Magazine Global Wholesale Telecommunications Awards for the second consecutive year. Tata Communications was also presented with the “ATLANTIC-ACM Global Wholesale Best-in-Class Data Price” award at the 4th annual Global Wholesale Carrier Excellence Awards. Further, it also received the 'Best Wholesale Carrier' at the 2007 Telecoms World Awards, Middle East.  

Sourced From: Vaishnavi Corporate Communications Pvt Ltd