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Mumbai, Nov. 1

Dip in revenues from the enterprise and carrier data segment have caused the city based Videsh Sanchar Nigam Ltd (VSNL) to post a 42.55 per cent fall in net to Rs 61.42 crore for the quarter ended September 30, 2007 compared with Rs 106.92 crore for the quarter ended September 30, 2006. Total income has decreased by 1.5 per cent to Rs 987.94 crore (Rs 1,003.07 crore). The company’s enterprise and carrier data segment witnessed a 12.8 per cent fall in revenues to Rs 3 09.12 crore from Rs 354.77 crore. Revenues from wholesale voice business remained flat at Rs 503.07 crore. Separately, the board of VSNL has approved a proposal to change the name of the company to Tata Communications Ltd. The new name and identity will help the company leverage the brand equity and global recognition associated with the Tata Group, said a news release from the company. The VSNL scrip closed at Rs 517.05, down 6.96 per cent against its previous close of Rs 555.7, on the BSE today. —

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