Tata Communications reports net loss of Rs 21.38 cr for Q1

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Tata Communications today reported a consolidated net loss of Rs 21.38 crore for the first quarter of 2014-15 financial year.

The company had reported a net profit of Rs 94.52 crore in the corresponding period last fiscal, it said in a filing to the BSE.

Total income from operations, however, rose 13.64 per cent to Rs 5,111.72 crore for the reported quarter as compared to Rs 4,497.98 crore in the same period last year.

The company said revenue from operations from the core business improved 12 per cent at Rs 4,518.6 crore from Rs 4,018.8 crore during the corresponding quarter a year ago.

Tata Communications said data services continue to be the primary growth driver because of an uptake in demand from global enterprise customers for network and data centre services.

"The improvement in global demand, our comprehensive data services portfolio and an emphasis on operational excellence holds us in good stead," Tata Communications MD and CEO Vinod Kumar said.

The start-up business, comprising primarily of Neotel, posted a 24 per cent increase in revenues at Rs 593.1 crore as compared to Rs 479.1 crore in Q1 FY14.

The company said start-up business EBITDA increased by 23 per cent to Rs 141.5 crore in Q1 FY15 compared to Rs 115.4 crore last time.

"Our Q1 results have set a good momentum for the year ahead and we are confident that we will be able to sustain this trend in the coming quarters. The business continues to benefit from improved asset utilisation, greater leverage on costs and uptrend in our newer services," Tata Communications Chief Financial Officer Sanjay Baweja said.

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