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Tata Communications Posts Profit in Q2 on Voice, Data Business

Tata Communications Posts Profit in Q2 on Voice, Data Business

By Press Trust of India | Updated: 28 October 2015 18:19 IST

Tata Communications Tuesday reported a consolidated net profit of Rs. 6.02 crores for the quarter ended September 30, 2015.

The company had reported a net profit of Rs. 92.39 crores in the corresponding period last fiscal, Tata Communications said in a filing to the BSE.

Total income from operations increased to Rs. 5,154.35 crores for the reported period as compared to Rs. 5,071.59 crores last year.

The company said data business continued its upward trajectory with a strong, broad-based growth with an uptake in solution led offerings across various industries. "Q2 FY16 data revenues increased by 16.9 percent year-on-year," the company said.

It further said transformation services for carriers, new business models in the media and entertainment industry, growth in the data centre business, VPN connectivity and Internet transit have been the key drivers for growth. "We are encouraged by the upswing in customer demand globally. We continue to focus on creating the right partner ecosystems and transformational services such as cloud and mobility for our customers," Tata Communications MD and CEO Vinod Kumar said.

The company said voice business net revenues during the second quarter were up 9 per cent year-on-year. "Both the voice and data businesses have continued to generate free cash flow in-line with our expectations," Tata Communications CFO Pratibha K Advani said.

In a separate filing, the company said it has re-appointed Vinod Kumar as the MD and Group CEO for a further term of five years, with effect from February 1, 2016 till January 31, 2021.

In 2011, Kumar was appointed as the MD and Group CEO with effect from February 1, 2011 till January 31, 2016. "The board of directors of the company at its meeting held on October 27, 2015 has re-appointed Vinod Kumar as the MD and Group CEO of the company for a further term of five years, with effect from February 1, 2016 till January 31, 2021," the filing said.

The said appointment is subject to obtaining necessary approvals from the shareholders and any applicable statutory and regulatory approvals as may be required, the filing added.

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