Comments
Shares of Tata Communications today surged nearly 6 per cent after the company posted an over 12-fold jump in December quarter net profit.
The stock zoomed 5.83 per cent to touch its one-year high of Rs 711.50 on the BSE.
On the NSE, shares of the company soared 5.86 per cent to Rs 712.40 — its 52-week high.
Tata Communications had yesterday posted an over 12-fold jump in its December quarter net profit at Rs 1,412.88 crore on account of realisation from sale of its data centre.
The company had posted a net profit of Rs 110.74 crore in the same period a year ago.
“Consolidated PAT (profit after tax) stood at Rs 1,413 crore. Contribution from an exceptional one-time gain from the stake sale of the India Data Centre (Rs 2,138 crore) was offset by the impairment (Rs 250 crore) on account of the South African subsidiary,” Tata Communications said in a statement.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.