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Tata Communications reports a dip in core revenues for quarter-ended June, 2017

July 25, 2017

Tata Communications has announced its financial results for the quarter-ended June 30, 2017. The company’s gross revenue stood at Rs 43.10 billion, a dip of about 3.3 per cent when compared to the same quarter in 2016. As per the company the decline in core revenues have declined primarily core revenues primarily due to de-growth in the voice business.

The company’s net profit for the quarter under consideration stood at Rs 323 million, almost 75 per cent lower when compared to the same quarter in 2016.

Meanwhile, the revenues from data services grew by 4.6 per cent year on year, while the growth services vertical witnessed 25 per cent annual growth driven by cloud enablement services.

Commenting on the results, Vinod Kumar, MD and CEO, Tata Communications, stated, “Digitalisation continues to create new avenues for growth across our entire business portfolio and our investments in digital competencies hold us in good stead for the future. Having established a broad and deep portfolio that enables digital and global transformations, we are now pivoting our customer engagement around business themes rather than just technology.  We are also proactively investing into futuristic workflows and systems that will boost our productivity and enhance the customer experience. These investments will positively impact the medium to long term margins.”

Commenting on the results, Pratibha K. Advani, CFO, Tata Communications, said, “Our free cash flow generation remains robust notwithstanding investments into new growth services and for our in-house business transformation projects. We are at the forefront of digital transformation and fully geared to capitalise on this opportunity.”

 
 

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