Tata Communications has posted its financial results for the quarter and half-year ended September 30th 2013.
For the second quarter of financial year 2014, the company?s EBITDA increased by 90 per cent on a year-on-year (YoY) basis and 28 per cent on a quarter-on-quarter (QoQ) basis. Meanwhile, net revenues from its global voice services increased by 30 per cent YoY, while gross revenue from global data services increased by 19 per cent YoY and revenue from enterprises increased by 29 per cent YoY.
Consolidated gross revenues registered an increase of 16 per cent to Rs 49,526 million in the second quarter of financial year 2014, from Rs 42,710 million in the corresponding quarter last year. Net profit increased to Rs 804 million in the second quarter of financial year 2014, compared to a net loss of Rs 2,742 million in the same quarter last year.
Meanwhile, the company?s gross revenues for the core business increased by 17 per cent at Rs 44,187 million, against Rs 37,840 million during the second quarter of financial year 2013.
Similarly, its global voice services (GVS) continued to register growth, with a total of 15.4 billion minutes carried on the network in the second quarter of financial year 2014, compared to 15.2 billion minutes in the second quarter of financial year 2013. GVS net revenues registered a 30 per cent YoY increase in the second quarter of financial year 2014. Gross revenues for global data services (GDS) also increased by 19 per cent, to reach Rs 19,897 million in the second quarter of financial year 2014, from Rs 16,703 million last year in the second quarter of financial year 2013.
The company?s start-up business, comprising primarily of Neotel, witnessed a 10 per cent increase in revenues at Rs 5,339 million, compared to Rs 4,870 million in the second quarter of financial year 2013. The start-up business? EBITDA margins stood at 24.9 per cent in the second quarter of financial year 2014, compared to 10.6 per cent in the second quarter of financial year 2013.
For the first half of financial year 2014, the company?s consolidated gross revenues increased by 13 per cent at Rs 94,506 million, as against Rs 83,784 million in the same period last year.
Net profit increased to Rs 1,749 million, compared to a net loss of Rs 4,171 million in the same period last year. Meanwhile, gross revenues for the core business increased by 14 per cent to Rs 84,376 million from Rs. 74,305 million during the first half of financial year 2013. GVS net revenues registered a 20 per cent growth on a YoY basis in the first half of financial year 2014. GDS gross revenues increased by 16 per cent to Rs 37,855 million, from Rs 32,682 million in the same period last year.
Start-up business revenues increased by 7 per cent to reach Rs 10,130 million, from Rs 9,479 million in the first half of financial year 2013. The EBITDA margins of the company?s start-up business stood at 23 per cent in the first half of financial year 2014, compared to 11.7 per cent in the first half of financial year 2013.
