Tata Communications Limited has reported a net loss of Rs 231.8 million for the quarter ended June 2014, as compared to a profit of Rs 945.2 million for the quarter ended June 2013. The profits decline despite a 13.6 per cent rise in revenues from Rs 44.97 billion in April-June 2013 to Rs 51.11 billion in April-June 2014. The consolidated earnings before interest, taxes and amortisation (EBITA) also showed growth of nine per cent from Rs 6.51 billion in first quarter of 2013-14 to Rs 7.12 billion in the corresponding quarter in 2014-15.
The income from core business grew by 12 per cent Rs 40.18 billion for the first quarter of 2013-14 to Rs 45.18 billion for the first quarter of 2014-15. The net revenues from voice solutions business declined by 13.3 per cent on year?on-year (YoY) basis in the quarter ended June 2014. Meanwhile, the net revenues from data services business grew by 16.5 per cent on YoY basis in the same time period due to the increased demand for network and data centre services by the global enterprise customers.
Meanwhile, its South Africa-based subsidiary Neotel posted an increase in revenues by 24 per cent from Rs 4.97 billion in the quarter ended June 2013 to Rs 5.93 billion in the corresponding quarter in 2014. Also, the EBITA for the start-ups grew by 23 per cent year on year from Rs 1.15 billion to Rs 1.41 billion.
