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Tata Communications reports second quarter results

Tata Communications said revenue from operations for its core business grew 1.7% to Rs 44,950 million (USD 742 million @average INR/USD exchange rate of 60.58) from INR 44,187 million during the corresponding quarter in the previous year.

Total Income has increased from Rs. 49919.50 million for the quarter ended September 30, 2013 to Rs. 52350.60 million for the quarter ended September 30, 2014.

“Data continues to be the growth driver; broad based, enterprise segment solutions improved significantly to post an increase in revenues of 8.3% YoY. Connectivity solutions like MPLS-VPN and IP transit led the network services growth story while Unified Communications and Collaboration (UCC) and transformation services (TCTSL) were the front runners in the growth of the managed services segment. During the quarter, the data business also crossed the 20% EBITDA margin milestone. Core business continues to be firmly PBT positive,” it said.

The Group has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 923.90 million for the quarter ended September 30, 2014 as compared to Rs. 803.60 million for the quarter ended September 30, 2013.

The start-up business continued its upward trajectory and posted a robust growth of 8% increase in revenues at INR 5,766 million compared to INR 5,339 million in Q2 FY14. The start-up business EBITDA margin stood at 31.3% during the quarter, compared to 30.8% in Q2 FY14.

Vinod Kumar, MD and CEO, Tata Communications, says, “Enterprises across geographies are beginning to harness the digital transformation to power their growth trajectories. They are expanding and restructuring their portfolios and service offerings while looking to scale globally. Capitalising on this positive trend in the ICT space, we’ve developed some compelling cloud enablement offerings, all of which, positions us well for future growth. Our recent IZO launch is one we have high hopes for as we take the necessary steps towards making the Internet Fit For Business™ by bringing a new level of predictability and reliability to the public Internet that does not exist today. We will continue our focus on driving innovation across our service portfolio.”

Further commenting on the Q2 results, Vinod Kumar says, “The composition of revenue, and by extension, the quality of our EBITDA is improving as the share of the more sustainable and lucrative, data and managed services segment grows. We continue to be focused on driving robust revenues through long-term engagements with global enterprises and sustaining profitability with a vigilant cost regime.”

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