Tata Comm narrows loss to Rs 142cr in Apr-Jun

Tata Communications today posted a loss of Rs 142.08 crore for the quarter ended June 30, 2012, against that of Rs 278.74 crore in the same quarter last year.

The consolidated income from operations stood at Rs 4,107.39 crore in the reported period, up 26%, from Rs 3,257.06 crore in the April-June 2011 quarter.

The global voice services (GVS) business registered a total of 15.8 billion voice minutes, an increase from 13.6 billion minutes in Q1 FY 12.

The segment revenues grew 26% to Rs 1,598 crore in the quarter under review, from Rs 1,264 crore in the same period last year.

Tata Communications MD and CEO Vinod Kumar, in a statement, said, "We are growing faster than the industry average with our core business benefiting from our expanded, wholly owned, round the world sub-sea connectivity."

"We have introduced service enhancements and newer platforms for conducting business more efficiently and have a sharper focus on strategic verticals such as financial solutions, business video and data centers," he said.

The start-up business, which largely maps to Neotel, posted a revenue growth of 21% at Rs 461 crore, up from Rs 380.8 crore in Q1 FY 12.

"Neotel's improved profitability is a strong reflection on the growth and operational efficiency initiatives we have invested in over the last year," he added.

South African Neotel became a subsidiary of Tata Communications last year after the Tatas increased its holding in Neotel to 61.5% from 49%.