Info-tech

Tata Comm prunes net loss to Rs 5.2 cr

Our Bureau Mumbai | Updated on March 12, 2018 Published on May 28, 2013

Tata Communications has narrowed its consolidated net loss to Rs 5.2 crore for the fourth quarter ended March 31 from a net loss of Rs 260.9 crore recorded in the same period of previous financial year.

Its total income rose 10.6 per cent to Rs 4,441.8 crore during the quarter from Rs 4,015.3 crore.

“We have gained market share in all segments and geographies in the course of the last financial year, despite the economic uncertainties and tentative business conditions. Focus on large enterprises increased in the last one year,” Tata Communications Managing Director and Group Chief Executive Officer Vinod Kumar said.

The company, which spent about $300 million in capex in 2012-13 (FY13), intends to maintain capex at that level in this year too. It had also reduced debt by over Rs 350 crore in FY13.

For FY13, Tata Communications posted a consolidated net loss of Rs 623.3 crore (net loss of Rs 794.7 crore) on a total income of Rs 17,439.5 crore (Rs 14,340.9 crore).

On Tuesday, Tata Communications’ shares closed up 3.05 per cent at Rs 217.80 on the BSE.

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Published on May 28, 2013
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